The panel also directed Unitech to pay Rs 50,000 as litigation cost to the complainants.
The cases in which he would be grilled pertain to losses suffered by Air India due to an alleged multi-crore aviation scam and irregularities in fixing air slots for international airlines.
Will outstanding amount collected from homebuyers be enough to kickstart construction of stuck projects in Delhi-NCR?
For homebuyers, NBCC comes with a sense of sovereign guarantee but there are concerns that completing more than one lakh housing units will be a tall order
NBCC will not undertake any construction work, but will appoint agencies as per the requirements for completing unfinished Unitech projects.
In this episode of Reporter's Take, Sakshi Batra talks with Vandana Ramnani about NBCC taking over Unitech's projects.
Centre likely to submit proposal before the Supreme Court on July 29, the day the apex court is expected to hear the Unitech matter
Total income declined to Rs 1,371.04 crore during the last fiscal from Rs 1,961.32 crore in the 2017-18.
The homebuyers’ proposal also calls for ring fencing the project against any old legal liabilities. It has been proposed that to make the projects viable for participation from new private sector developers RERA and other delay liabilities for default of the builder to the buyers be extinguished and timelines for delivery be reset.
Here, intent is the key. By reaching out to government agencies to complete unfinished housing projects, the SC has one express aim: relief for the stressed homebuyer.
Sakshi Batra gets in a conversation with Moneycontrol's Vandana Ramnani to understand what this suggestion means and what precedent does it set.
Asking PSUs to finish construction of flats for a private developer is akin to privatising profits and socialising losses
At 1014 hrs, Unitech Ltd was quoting Rs 1.30, up 4.84 percent on the BSE.
The application moved in the Supreme Court seeks for the immediate suspension/removal of the board of directors of Unitech Limited and the appointment of the nominees of the union/Government of India in its place.
As many as 74 projects are under construction and over 16,000 homebuyers have invested in these projects.
These firms have not made required submissions to the exchange as per listing regulations within the prescribed time limit for the quarter ended September 2018.
A bench headed by Justice D Y Chandrachud asked accounting firm Grant Thornton to carry out the forensic audit of Unitech and all its subsidiary companies since January 2006.
Post the Jaypee, Amrapali and Unitech case, homebuyers are definitely more informed. Despite that, the trust deficit is bound to continue as a majority of them are still apprehensive about under construction projects.
At a brief hearing, Justice Chandrachud indicated that the issue of conducting a forensic audit of Unitech's financials may come up on December 7.
Selling in some small & mid-cap stocks started in the beginning of 2018 also —thanks to high valuations, but the pressure increased further post August
Its net loss stood at Rs 5.99 crore in the year ago period.
With appointment of Dhir, the company said it was complying with the mandatory provisions of Sebi (Listing Obligations and Disclosure Requirements) Regulations, 2015, regarding combination of directors with at least one woman director.
Foreign institutional investors (FIIs) have pulled out more than Rs 12,000 crore from Indian capital markets so far in the month of September