New Delhi: The Supreme Court on Monday accepted the proposal of the Centre to take over the management control of embattled realty firm Unitech Limited. A bench headed by Justice D Y Chandrachud gave two months to the new board of Unitech to prepare the resolution framework of the company and sought its report.
The bench, also comprising Justice M R Shah, granted 2-month moratorium to the new board from any legal proceedings against the company's management.
The Centre had on Saturday told the Apex Court that it is agreeable to revisit its 2017 proposal to take over the management control of Unitech Limited and complete its stalled projects for providing relief to around 12,000 hassled homebuyers.
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