Unitech: Battle for control

In a fresh twist in the Unitech saga -- the government today moved the National Company Law Tribunal (NCLT) to wrest control of the debt laden realty firm and the tribunal asked the government to appoint new directors to the Unitech board.

However, Unitech challenged the interim order, saying that it comes in way of a previous Supreme Court order. The NCLT responded to it saying that the interim order will be subject to compliance to the Apex Court's direction but it stays.

Now, the Corporate Affairs Ministry plans to submit the list of 10 new directors for Unitech to the NCLT on December 20th.

In an interview to CNBC-TV18, Manjit Singh Ahluwalia, Lawyer of one of the petitioners against Unitech , Sumant Batra, Insolvency Lawyer and Vivek Kohli, Senior Partner at Zeus Law shared their views and readings in the same.

Watch accompanying video for more details.