Unitech Directors

Rs 395-cr bank fraud: CBI files new case against Unitech, former directors

The CBI has filed a new case against Unitech Limited and its former directors in connection with an alleged fraud in the IDBI bank involving an amount of Rs 395 crore, officials said. Nearly six months after a complaint from the bank, the Central Bureau of Investigation (CBI) has booked the company and its former promoters and directors Ramesh Chandra, Ajay Chandra and Sanjay Chandra under the Indian Penal Code (IPC) sections dealing with criminal conspiracy and cheating and provisions of the Prevention of Corruption Act, the officials said. The accused Unitech founders are facing another CBI probe pertaining to an alleged fraud in the Canara Bank. The company was allegedly enjoying a vendor bill discounting (VBD) facility, a kind of credit, of Rs 400 crore from the IDBI bank in 2012, the officials said. "Due to slowdown in real estate sector and pile up of inventory, the company was facing liquidity mismatch, and the payment of VBD bills was delayed," the complaint, now a part of

Money laundering case: ED files fresh chargesheet against Unitech promoters

The ED has filed a fresh chargesheet before a court in connection with its money laundering probe against realty group Unitech, its promoter brothers and others, said the federal agency.

Unitech owners operating from Tihar, Supreme Court shifts them to Mumbai

Both Sanjay and Ajay, who are in jail since August 2017, are accused of siphoning off home buyers' money

Former Unitech promoters were operating from Tihar jail: ED tells SC

Sanjay and Ajay Chandra deputed staff outside Tihar jail premises to communicate with outside world and dispose of properties, ED tells SC

Delhi HC denies daily access to lawyers for jailed Unitech directors

For talking to family and friends, they be provided limited telephone facilities, as given to other prisoners, the court said

Government nominee directors appointed on board of crisis-hit Unitech

On Tuesday, Unitech's newly appointed chairman and managing director (CMD) Yudvir Singh Malik assumed office

Yudvir Singh Malik appointed Unitech's CMD after govt supersedes board

Crisis-hit realty firm Unitech's newly appointed chairman and managing director (CMD) Yudvir Singh Malik assumed office on Tuesday. The central government has superseded Unitech's board on Supreme Court's direction. "Yudvir Singh Malik, IAS (Retd) has been appointed as Chairman & Managing Director of the company in terms of order of the Supreme Court of India, with immediate effect," Unitech said in a regulatory filing. "Malik has assumed office today (Tuesday) and held a brief meeting with the key managerial personnel(s) (chief financial officer and company secretary)," it added. On Monday, the Supreme Court allowed the Centre to take total management control of the embattled realty firm and appoint a new board of nominee directors. The decision would bring respite to over 12,000 hassled homebuyers of Unitech. The top court had approved the name of retired Haryana cadre IAS officer Yudvir Singh Malik as CMD of the new board and directed that the existing board of directors of the

SC asks directors of Unitech Ltd to give details of personal assets

The bench headed by Dipak Misra directed that neither any director, nor their agents or assignees "shall create any third party interest in the properties" of the firms