Business

SC asks Unitech to deposit Rs 750 cr by December end

Unitech's Vista project
Supreme Court on Unitech

New Delhi, Oct 30: The Supreme Court on Monday asked realty major Unitech Managing Director Sanjay Chandra to deposit Rs 750 crore by December end and directed the Tihar Jail authorities to provide him video conferencing facilities to interact with people outside to raise the amount.

The bench of Chief Justice Dipak Misra, Justice A.M.Khanwiljar and Justice D.Y. Chandrachud said that the jail authorities would permit Unitech officials and Sanjay Chandra’s lawyers to visit him in the jail for facilitating the raising of this money.

The top court asked Unitech to deposit Rs 750 crore as amicus curiae Pawanshree Agrawal told the court that the firm would require Rs 2,000 crore to refund the investors and the flat buyers’ money.

The top court also asked different forums to refrain from taking any coercive step against Chandra on any complaint that may be filed by the flat buyers.

IANS

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