SC orders sale of assets of Unitech Ltd
Written by : SMTV24x7 | Tue, Apr 10, 2018, 12:19 AM
New Delhi, April 10:The Supreme Court on Monday ordered that a public notice inviting objections to sale of assets of real estate major Unitech Ltd be issued for auctioning them, in order to pay back home buyers seeking refund of their money.
The public notice is aimed at ensuring that properties are unencumbered before the sale takes place.
A bench of Chief Justice Dipak Misra, Justice A.M. Khanwilkar and Justice D.Y. Chandrachud said that a public notice be issued in prominent dailies for ascertaining that the properties were free from incumbrances and may be auctioned.
In a related development, the court also imposed a cost of Rs 75 lakh on Om Shakti Agency (Madras) Pvt Ltd for its submission that it cannot deposit Rs 90 crore with the apex court registry in lieu of purchasing Unitech Ltd's property near Chennai.