AMN
The Supreme Court on Monday agreed to hear tomorrow the appeal of Unitech Limited challenging the recent order of the National Company Law Tribunal (NCLT) directing the central government to take over the management of the embattled real estate firm.
A bench of the Apex Court considered the submission of the real estate firm that its bank accounts have been frozen and it is difficult to deposit Rs 750 crore as asked by the apex court.The NCLT has recently invoked the provisions of the Companies Act and allowed the central government to take over the Unitech Limited and appoint its nominee directors in the Board of the firm.
The apex court had last month directed Tihar Jail authorities to grant adequate meeting time to their inmate Sanjay Chandra, Managing Director Unitech Ltd, for allowing him to strike deals with prospective buyers to deposit Rs 750 crore with it by December end to safeguard the interests of homebuyers.