New Unitech board starts hunt for resolution planner
The newly constituted board of debt-laden property developer Unitech is looking for an agency to prepare a resolution plan, the modalities of which were discussed at the board’s first meeting on Tuesday.
Lockdown to delay Unitech resolution plan
A resolution plan for Unitech will be delayed by a couple of months due to the extended nationwide lockdown to contain the Covid-19 pandemic, a government-nominated member of the reconstituted board of the troubled real estate developer told ET.
Corporate Affairs Ministry moves SC with plan to manage Unitech
The corporate affairs ministry on Wednesday filed an affidavit in the Supreme Court proposing to take over the management of Unitech Group.
Unitech promoters diverted money of home-buyers and banks to off-shore tax havens: Audit report
Forensic audit of Unitech, done on SC's orders, reveal massive diversion of funds by the firm.
Unitech names Deloitte to map out resolution
he new board of debt-laden property developer Unitech has appointed Deloitte to prepare a resolution framework for the company. The decision to appoint Deloitte was taken after a board meeting, a person aware of the matter told.
We will ask Centre to take over Unitech group, says Supreme Court
The court was hearing a batch of petitions filed by homebuyers who have been fighting a legal battle against Unitech for almost three years.
Share market update: 15 stocks hit 52-week highs on NSE
Overall, 39 shares were trading in the green in Nifty50 index, while 11 were trading in the red.
Stalled projects: Centre's stand differs on Amrapali, Unitech
In December 2019, for Amrapali Group, the Centre made an application having a five-point criterion for financing the selected stalled projects. But for Unitech, the Centre refused to infuse funds from the Rs 25,000 crore corpus created to salvage stalled residential projects.
SC approves nominations of 7 directors to Unitech board
Unitech promoters Sanjay Chandra and his brother Ajay Chandra are currently lodged in Tihar jail for allegedly siphoning off homebuyers' money.
Puravankara buys 25 acre from Unitech for Rs 200 cr
Puravankara has already acquired land in Bengaluru, Mumbai, Pune and Hyderabad to expand its commercial portfolio.
SC seeks Centre's proposal on ways to complete stalled Unitech projects
The SC said that the Centre should suggest the modalities and name of the third-party agency which could construct the pending projects of Unitech Ltd in a time bound manner.
With companies in a fix, corporate FD investors may be in for some pain
Affected by lockdown, low-rated issuers may delay repayment to conserve cash, say experts.
SC tells govt to start managing Unitech
“The Supreme Court has asked government of India to take over the management of Unitech. The auditors have submitted that at least Rs 5,000 crore of funds received from home buyers was not utilised for construction of projects,” said Pawan Shree Agarwal, amicus curiae in the matter
SC accepts govt proposal for new board to take over Unitech
The Supreme Court on Monday accepted Centre's proposal recommending a seven-member board to take over the management of real estate company ...
Unitech takeover by govt unlikely to set any precedent: Sandeep Parekh
Unitech is only one of the hundreds of developers which are stressed today and so I do not think it is possible for any government to rescue the top 100 developers in the country. There is no practical possibility of the government taking over the top 3-4 companies and bailing them out. So it is unlikely to set any precedent.
Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service