SC grants interim bail to Unitech promoter Sanjay Chandra after his parents test positive for coronavirus
Sanjay Chandra has been in jail for the last three years over charges related to financial fraud and siphoning off of investors' money.
JM Financial ARC says acquired Unitech's loan from a financial institution in 2016; no new debt taken over
The funds were disbursed by JM Financial ARC over a period of time from the date of taking over their debts, it further said.
IL&FS probe: Ex-CEO of subsidiary helped leading rating agency official buy duplex villa worth crores at discount
The probe by the government's white-collar crime probe agency SFIO has already unearthed connivance of auditors and independent directors with the then top management of IFIN
The Supreme Court on Wednesday refused bail to Unitech promoters Sanjay Chandra and Ajay Chandra in a case relating to alleged siphoning off the home-buyers' money
Debt-ridden Unitech is facing huge protest as well as litigations from home buyers because of significant delays in completion of their housing projects across the country
Delhi High Court issues notices to A Raja, Kanimozhi on Enforcement Directorate, CBI appeals in 2G scam case
The Delhi High Court, on Wednesday, issued notice to former Telecom Minister A. Raja, DMK MP Kanimozhi and others in the 2G spectrum money laundering case.
After the 2g spectrum case verdict, Unitech surged 19.91 percent, D B Realty 19.89 percent, RCom 13.49 percent and Sun TV Network 5.98 percent on BSE.
The Hyderabad High Court is likely to hear on Monday a petition filed by debt-ridden realty firm Unitech Ltd, seeking refund from the Telangana State Industrial Infrastructure Corporation of about Rs 500 crore it deposited in 2008 for the development of 350 acres of land.
As per RERA, builders cannot sell without registration, and projects for which completion certificate has not been issued cannot be considered as completed projects
Unitech stock fell to a low of Rs 6.43 on the BSE, down 16.38 percent over its previous closing price
Unitech case: Supreme Court stays company law tribunal order asking govt to take over real estate firm
The apex court, which had yesterday expressed unhappiness over the Centre's move to approach the NCLT, said the stay on the company law tribunal's order would meet the ends of the justice.
Company law tribunal on 8 December, had suspended all the eight directors of the realty firm over allegations of mismanagement and siphoning of funds and had authorised the Centre to appoint its 10 nominees on the board.
National Company Law Tribunal (NCLT) had, on 8 December, suspended all the eight directors of Unitech over allegations of mismanagement and siphoning of funds, while authorising the government to appoint its 10 nominees on the board
SC to hear on Tuesday Unitech's plea challenging NCLT order that directed govt to take over real estate company
NCLT has recently invoked provisions of Companies Act and allowed central government to take over Unitech management and appoint its own nominees
NCLT refuses to put in abeyance 10 Unitech directors' suspension order; permits govt to appoint nominees
Unitech approached the tribunal contending that the government had not informed the forum of Supreme Court bar on any coercive action against the company
In a high drama at the National Company Law Tribunal (NCLT), Unitech first suffered a jolt when its 10 directors were suspended by the tribunal, which allowed government to appoint their replacements.
The bench, however, said that properties can be put on auction to generate Rs 1,865 crore to refund the buyers
At the fag end of hearing, Chandra's counsel urged the court that the promoter should be allowed to work from his office in custody, the bench said, "No".
A bench of Chief Justice Dipak Misra, Justice A.M. Khanwilkar and Justice D.Y. Chandrachud directed the real estate major to pay Rs 80,000 each as litigation cost to 39 flat buyers in one of the developer's projects
Severe action is justified only if the accused show signs of being non-cooperative or a tendency to evade ownership for their decisions that cause loss of property to customers or other stakeholders like partners