New Delhi: The Supreme Court on Friday said that the newly formed Board of Directors of Unitech Ltd can share the plan of resolution of the real estate firm struggling with the crisis on its website and seek suggestions from the concerned parties. A bench of Justices Dhananjay Y. Chandrachud and Justice MR Shah took cognizance of these suggestions of Justice Pawan Shri Aggarwal that if the court wishes, suggestions can be sought from the parties by sharing this resolution plan on the company’s portal. The scheme has been introduced by the newly formed Board of Directors under the Indian Insolvency and Bankruptcy Code. On January 20, the apex court granted relief to the nearly 12,000 troubled land buyers of Unitech, allowing the Center to take full management of the company under its control and appoint a new board of directors to nominate new directors.
During the hearing of the case, Aggarwal said that if the court considers it appropriate, a copy of this resolution plan can be put on the newly constituted board of directors so that the parties can see it and suggest it if they want. The Bench requested Justice Pawan Shri Aggarwal that a copy of this Samadhan Yojana be shared on the portal operated by him. The apex court said that suggestions can be made to the amicus curiae within ten days from the date of uploading the scheme in this case. The court said the amicus curiae would share the suggestions they received with the newly formed board of directors. The top court in January this year allowed the Center to take full control of the firm and subsequently approved the appointment of retired Haryana cadre IAS officer Yudveer Singh Malik to the post of Chairman and Manager of the new board. was.
The court had said that the present directors of the board would be considered superseded. Sanit Chandra, the promoter of Unitech Ltd, lodged in Tihar Jail for the last three years on charges of allegedly grabbing money from home buyers, was given interim bail on 30 July on humanitarian grounds by the court as both his parents are infected with Covid-19. The court had refused to grant bail to Sanjay and his brother Ajay Chandra in January last year for allegedly grabbing crores of rupees from home buyers.
The court said that they had not yet complied with its order of October 30, 2017. Under this order, the court directed these promoters of Unitech Limited to deposit Rs 750 crore in the registry of the apex court by 31 December 2017. The case was related to a complaint lodged in 2015 but later 173 other home buyers of Unitech Ltd’s ‘Wild Flower Country’ and ‘Anthiya’ project in Gurugram joined.
