SC orders Unitech directors to be personally present for court proceedings on May 5

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Published: March 27, 2017 2:30:32 PM

The Supreme Court on Monday asked the Directors of the Unitech real estate company to be personally present in the court on May 5 and reply.

unitech supreme court, unitech vista project, unitech vista, unitech supreme court, unitech buildings noida, noida expressway unitech, Earlier in February, the Supreme Court had asked Unitech Private Limited to deposit an interest of 14% on Rs 17 crore which had been withdrawn by the 39 buyers opting out of the Vista Outing project. (Reuters)

The Supreme Court on Monday asked the Directors of the Unitech real estate company to be personally present in the court on May 5 and reply. Earlier in February, the Supreme Court had asked Unitech Private Limited to deposit an interest of 14% on Rs 17 crore which had been withdrawn by the 39 buyers opting out of the Vista Outing project. A month earlier, the apex court had ordered the builders to pay a sum of Rs 2 crore to the 39 flat buyers of the Vista Housing project in Gurugram. The top court was hearing a plea filed against the builders for the delay in allowing the flats to the buyers.

Earlier the Delhi High Court had stayed legal proceedings against Unitech after a petition filed by over 100 buyers who wanted a return of their money. Although, the Supreme Court had later vacated the stay in all high courts and consumer courts against the company. All the buyers had complained that they had not been allotted their flats in time, following which they had gone to the top court against the company.

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Last year on October 19, the SC had ordered a disbursement if Rs 15 crore from Unitech which had then been deposited by the company’s builders in the registry of the court to investors on a prorata basis. The Sc had also asked Unitech to refund the amount to 38 buyers after they had refused to rely on the assurances possession by 2017. In August last year, the SC had slammed Unitech on its failure to deposit Rs 5 crore in due time for the delay in finishing the project Burgundy. Burgundy had been launched by the Unitech Private Limited on the Noida-Grater Noida Expressway.

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