Unitech homebuyers can respond to NBCC proposal by Friday

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Updated: July 30, 2019 6:58:47 AM

The Supreme Court on Monday asked homebuyers of Unitech to respond by Friday to public sector company NBCC India’s proposal to take over and finish incomplete projects of the beleaguered real estate firm.

The top court also said it is open to hearing views from the homebuyers on whether to go ahead with the NBCC’s plan.

The Supreme Court on Monday asked homebuyers of Unitech to respond by Friday to public sector company NBCC India’s proposal to take over and finish incomplete projects of the beleaguered real estate firm. The proposal gives the details of completion of the unfinished projects.

The apex court also asked amicus curiae Pawan Shree Agrawal to upload the proposal on webportal for homebuyers to peruse, and buyers who wish to submit any suggestions can send them by mail to Agrawal, who will collate and put them up on the website.

The directions were given by a bench led by justice DY Chandrachud after attorney general KK Venugopal submitted the proposal by the state-owned housing company along with a report suggesting that a high-powered committee headed by a retired high court judge be constituted to oversee the completion and delivery of flats. NBCC’s proposal will now be vetted by the committee.

Perusing the plan, the bench said that the NBCC’s plan is not for making the houses itself, but it wants to get involved in the projects in capacity of “project management consultant.” The work might be subcontracted if required, it added.

The top court also said it is open to hearing views from the homebuyers on whether to go ahead with the NBCC’s plan.

While doubts were raised over the capability of NBCC to carry out the construction work as it was already handling Amrapali, the top law officer informed that they had a proposal from Larsen & Toubro as well, but now they are not ready to undertake the work.

During the earlier hearing, the judges had asked Venugopal to get in touch with the government and chalk out a road map on how the projects can be taken over by some public sector construction company such as NBCC.

The top court had in January ordered a forensic audit to look into allegations that Unitech had diverted funds. It had appointed accounting firm Grant Thornton to carry out the forensic audit of Unitech and all its subsidiary companies since January 2006.

Unitech’s promoters Sanjay Chandra and Ajay Chandra Chandra are lodged in Delhi’s Tihar Jail since August 2017 in an alleged 2015 forgery case filed by flat buyers of Unitech’s Gurugram-based Anthea Floors Wildflower Country housing project in Sector 70. The top court had in January this year rejected their bail pleas, saying that Sanjay did not deposit Rs 750 crore with its registry as per its October 2017 order.

The top court had on December 8, 2017 stayed the National Company Law Tribunal’s order that allowed the Centre to take over the management of embattled realty firm Unitech. The tribunal had then suspended all the eight directors of the realty firm over allegations of mismanagement and siphoning of funds and had authorised the Centre to appoint its 10 nominees on the board. However, later the government withdrew its petition after the apex court expressed unhappiness over the manner in which the Centre moved the tribunal without seeking its permission.

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