Unitech disappoint to refund delayed projects, shares take 20 % dip


Unitech shares slumped 20%, on Tuesday, after Unitech expressed its inability before the Supreme Court to refund money to the home buyers over its two delayed projects in Noida and Gurgaon.

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New Delhi : Unitech offers drooped 20%, on Tuesday, after the land communicated its powerlessness under the steady gaze of the Supreme Court to discount cash to the home purchasers over its two deferred ventures in Noida and Gurgaon. 

The scrip failed 20% to Rs 4.92, its least exchanging reasonable point of confinement for the day, on BSE. On NSE, it fell strongly by 19.51% to Rs 4.95. 

"We don't have cash. On the off chance that we had cash, we would have built the pads and structures and given to them," Senior supported A M Singhvi, the insight 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 ventures 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 booked. 

The shopper gathering had asked the land firm to discount the cash to home purchasers with premium. Then, BSE has looked for elucidation from Unitech over this matter.

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