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  1. Relief for homebuyers: This is what Supreme court wants Unitech to do; no bail for MD Sanjay Chandra

Relief for homebuyers: This is what Supreme court wants Unitech to do; no bail for MD Sanjay Chandra

Supreme Court on Monday asked Unitech builders to deposit Rs 750 crore before the Court registry by the end of December so that homebuyers could get their refunds.

By: | New Delhi | Published: October 30, 2017 4:59 PM
Supreme Court on Monday asked Unitech builders to deposit Rs 750 crore before the Court registry by the end of December so that homebuyers could get their refunds. (Reuters)

Supreme Court on Monday asked Unitech builders to deposit Rs 750 crore before the Court registry by the end of December so that homebuyers could get their refunds. The Apex Court fixed the matter for further hearing to the second week of January, reported ANI. The three-judge bench headed by Chief Justice of India Dipak Misra said that bail will be granted to the company’s Managing Director Sanjay Chandra only after the money is deposited in the apex court’s registry, added a Scroll report. Earlier, On September 15, the Apex court had refused to grant interim bail to Unitech Managing Director Chandra over the fraud case, relating to the delaying of housing projects in Noida and Gurugram, as per ANI report. The three-judge bench had also directed the real estate company to file a detailed list of homebuyers who want possession of flats in Unitech group projects and those seeking a refund of their money.

Several homebuyers had knocked the doors of the top court seeking a direction to the real estate company for getting timely possession and compensation of their flats. Earlier, in February, the Supreme Court asked Unitech to pay interest to 39 flat buyers who chose to withdraw after the builder’s failure to deliver flats as promised. The matter concerned the owners who booked flats in Unitech’s Vistas project in Gurugram in Haryana, as per ANI report.

Home buyers had accused Unitech of not completing the project and non-payment of their money along with interest. Allegations are also that Sanjay Chandra fraudulently took money from his clients and parked it in a shell company, ANI said.

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