The Supreme Court released Rs 21 crore, to complete the leftover flats of Unitech group. This fund was released after Unitech submitted the amount. The fund was released to Justice SN Dhingra committee for the completion of 514 flats in five residential projects.
These five residential projects are Uni Homes in Mohali, Verve and Horizon in Greater Noida, Vistas in Gurugram and Uni Homes in Noida. The developer proposed to finish these projects within 3 to 6 months. The committee headed by Justice Dhingra was formed for the identification and auction the unencumbered properties of the company which will now be monitored to check the construction status.
The Candor Investment also submitted nearly Rs 29 crores to purchase two unencumbered lands of Unitech in Kolkata. Earlier, the Supreme Court has directed the Dhingra committee to auction the same lands. Ranjit Kumar Sinha and Abhinav Agrawal, the lawyers of Unitech group made the Court aware about the deal and said that the deal was closed at Rs. 116 crores and the partial amount will be submitted by their client in few days.
The Dhingra committee supervised this second deal of the Unitech group. Earlier, the group sold a land for Rs. 97 crores to Devas Global Services LLP in Bengaluru. On the other hand, home buyers urged Supreme Court to direct the Central Government to take over Unitech projects. The hearing of the same is scheduled for September 19 and the home buyers also requested the court to suspend Company’s board of directors.