Page 2 - Unitech

CBI books Unitech MD, family in Canara bank fraud; carries out searches

The Canara Bank has alleged that the company had been availing credit facilities from it on the basis of personal and corporate guarantees from Chandras

Unitech posts net loss of Rs 1,317 cr for March quarter of last fiscal

Its net loss stood at Rs 402.16 crore in the year-ago period

Supreme Court allows sharing of resolution plan of Unitech Ltd under IBC

The bench also said the amicus shall collate the suggestions, if any received, with regard to the resolution plan for assistance of the court

Supreme Court grants interim bail to Unitech promoter Sanjay Chandra

The apex court was informed that one of his parents is infected with Covid-19 and is undergoing treatment at a hospital

Can't allow Noida to walk away with Unitech's surplus land till new RP: SC

The top court told Noida Authority that it would be appropriate to wait till the newly constituted Board of Directors of the company submits a resolution plan for the cash strapped realty firm

Unitech takeover: Despite IBC and RERA, homebuyers find no relief

Analysts point out the RERA, too, has not been able to stem the litany of woes faced by homebuyers in financially stressed projects

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 The central government has superseded Unitech's board on Supreme Court's direction.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

Unitech to seek aid from 25k cr realty fund to complete houses: Hiranandani

Besides Hiranandani, NBCC's former CMD A K Mittal, HDFC's Renu Sud Karnad and Embassy group chairman Jitu Virwani are part of the board.

SC accepts Centre's proposal to take over management control of Unitech

The bench, also comprising Justice M R Shah, granted 2-month moratorium to the new board from any legal proceedings against the company's management.

MCA unearths Rs 700 cr scam in Unitech, says funds diverted to 16 shell cos

Company believed to have siphoned off huge amounts of money to various shell companies

Govt lays out strategy to revive Unitech, says won't use public money

The MCA on Wednesday submitted a proposal in the Supreme Court to take over the management of Unitech.

Govt proposes Unitech takeover, submits proposal in Supreme Court

The government will appoint 10 directors to Unitech's board, it is learnt. All positions will be filled by people from different spheres and with varying expertise

Unitech fined Rs 200,000 for incorrect disclosure about shareholding

Markets regulator Sebi on Friday slapped a fine of Rs 2 lakh on Unitech Ltd for making wrong disclosure with regard to shareholding pattern of some promoters. It was alleged that Unitech made incorrect disclosure about shareholding of some promoters in the quarter ended September 2008 and December 2008. The Securities and Exchange Board of India (Sebi) conducted an examination in the scrip of Unitech for October 2008 to December 2008 period to ascertain violation of Listing Agreement. The Sebi probe found certain discrepancies in the shareholding of promoters of Unitech -- Mayfair Investments P Ltd and Prakausali Investments India P Ltd -- in the quarter ended September 2008 with respect to disclosure made to the BSE and as per shareholding provided by RTA Registrar & share transfer agents and depositories. In fact, there was incorrect disclosure of the shareholding of these two entities by Unitech. "Noticee (Unitech) by making wrong disclosures of the shareholding of its ...

NBCC submits plan to complete unfinished projects of debt-laden Unitech

Court seeks homebuyers', Unitech's response over plan, to next hear the matter on August 9

Crisis-hit Unitech's internal auditors resign citing time constraints

Crisis-hit realty firm Unitech Ltd said Tuesday that its internal auditors S K P & Co. Chartered Accountants has resigned citing time constraints. In a filing to the BSE, Unitech said that "Internal Auditors of the company viz S K P & Co. Chartered Accountants. has resigned with effect from July 15 stating that they are unable to continue as internal auditors of the company due to time constraint." The resignation comes days after Unitech deferred board meet to approve its financial result for the fourth quarter of the last fiscal and entire 2018-19. "The accounts department of the company requested that they still need some more time to provide the details information sought by the audit Committee in its meeting held on 25th June, 2019. "Therefore, the chairman of the company after consultation with other Directors, decided to postpone/adjourn the Board meeting to July 19, 2019. Accordingly the items w.r.t. the audited financial results for the quarter and year ended 31st ...

SC raps Unitech for not cooperating with auditors; warns of contempt

SC also allowed the release of Rs 40 crore to Justice Dhingra committee for completion of some pending work

Prima facie case of cheating against Unitech: Probe agency to SC

Supreme Court asks lower court to expedite hearing in the case, next hearing in lower court on Feb 7

SC refuses bail to Unitech's Chandra brothers for not deposting Rs 750 cr

Sanjay, managaging director of Unitech, and his brother Ajay were arrested in April last year after investors, who did not get flats in the company's projects, filed complaints of cheating against the

SC orders forensic audit of embattled real estate firm Unitech

The apex court has also asked the auditor Grant Thornton to place before it the draft terms of audit and timeframe of Unitech Ltd