The Supreme Court on Monday asked realty company Unitech to file an affidavit with details of its assets in India and abroad, ANI reported. The company is facing multiple cases filed by flat buyers who allege that Managing Director Sanjay Chandra had duped them.
The court will hear the case again on March 12.
In December 2017, the Centre had successfully moved the National Company Law Tribunal to have 10 interim directors appointed to Unitech’s board as its affairs were “not being carried out honestly”. However, the Supreme Court then stayed the order, and the Centre admitted it should not have sought to control the management.
The Economic Offences Wing of the Delhi Police had arrested Chandra and his brother Ajay in 2017 for allegedly cheating home buyers and siphoning off clients’ money to foreign accounts.
The real estate firm did not complete several housing projects in Greater Noida and Gurugram on time, and the company’s management did not refund the money along with interest, leaving thousands of buyers in the lurch. As many as 4,688 buyers have claimed a refund of Rs 1,865 crore from Unitech, according to Mint.
On January 29, Unitech had told the court that it had finalised a Rs 400-crore deal for the sale of two land parcels in Chennai, which would help it complete projects and refund buyers.