SC orders sale of assets of Unitech’s directors

By Accommodation Times News Service


On August 21, 2018, the bench of Supreme Court headed by chief justice Dipak Misra, asked the panel headed by former Delhi High Court judge, justice SN Dhingra, to dispensate the sale of unencumbered assets of the directors of real estate major Unitech Ltd.

The bench, also comprised of justices AM Khanwilkar and DY Chandrachud, directed the panel to move the sale of the firm’s properties in Kolkata and also asked the committee for disbursing Rs 25 crores to the home buyers, pro-rata basis, an agency said.

The bench said that the committee may proceed with the sale/auction of Unitech Ltd’s directors of unencumbered assets and further posted the matter for next hearing.

On July 5, 2018, to refund the money of home buyers the court had asked the Justice Dhingra panel to go ahead with the auction of Company’s unencumbered properties at Agra and Varanasi in Uttar Pradesh and Sriperumbudur in Tamil Nadu.

The Income Tax Department had claimed that the real estate firm owed it the tax of Rs 950 crores and had moved to the apex court, for making itself a party in the ongoing litigation.

After the Delhi High Court rejected the plea for interim bail, Sanjay Chandra, MD of Firm was seeking the interim bail from the apex court.

MD of the firm Sanjay Chandra and his brother Ajay Chandra, are being jailed.



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