Supreme Court Asks Unitech to Return Rs 15 Cr to Home Buyers


New Delhi: The Supreme Court (SC) on Wednesday requested Unitech to return Rs 15 crore to home purchasers over deferrals in conveying the Unitech Vistas venture in area 70 in Gurugram. 

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Thirty-eight home purchasers moved SC looking for a discount after they affirmed that the task is running no less than three years behind the timetable month of conveyance. 

The zenith court has coordinated Unitech to pay Rs 5 crore in the following two weeks and the equalization before the end of September. 

Next hearing for the situation will be on October 4. 

On Tuesday, shares of Unitech drooped 20% after the land firm communicated its failure under the steady gaze of the summit court to discount cash to the home purchasers over its two postponed ventures in Noida and Gurgaon. 

The scrip failed 20 for each penny to Rs 4.92, its most minimal exchanging reasonable farthest point for the day, on BSE. 

"We don't have cash. In the event that we had cash, we would have developed the pads and structures and given to them," Senior upheld A M Singhvi, the direction for Unitech Ltd, had told a seat of Justices Dipak Misra and U Lalit on Friday. 

More than two dozen home purchasers of Unitech's tasks in Noida and Gurgaon have drawn nearer the National Consumer Disputes Redressal Commission (NCDRC) after the developer neglected to give them ownership of the pads as planned. 

The shopper gathering had asked the land firm to discount the cash to home purchasers with premium.

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