Business Companies 12 Mar 2018 Supreme Court to auc ...

Supreme Court to auction Unitech properties to refund home buyers

DECCAN CHRONICLE
Published Mar 12, 2018, 2:28 pm IST
Updated Mar 12, 2018, 2:30 pm IST
SC asked Unitech to submit a list of properties including personal assets of directors of the company.
The court set March 26 as the next date of hearing.
 The court set March 26 as the next date of hearing.

New Delhi: The Supreme Court said on Monday that it will auction real estate major Unitech’s properties to refund home buyers.

The SC asked Unitech to submit a list of properties including personal assets of Board of directors of the company.

 

According to reports in NDTV Chief Justice of India Dipak Misra said "You (Unitech) have cheated and decided home buyers."

Inspite of court asking the company to submit the list of the properties, the firm said that the list is incomplete. The top court has asked Unitech to submit the complete list within a fortnight.

JM Finance Limited also faced the brunt after the Supreme Court imposed a fine of Rs 25 lakh for diverting the case. The company had taken over the loans of Unitech and said that will help the firm to complete the pending projects.

"We are given the impression that you will pay money to court so that home buyers can be refunded. But now you are saying you have taken over loans of Unitech. You (JM Finance) unnecessarily diverted the issue," said the Supreme Court.

The court set March 26 as the next date of hearing.

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