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Supreme Court directs sale of personal assets of Unitech directors for recovery of funds

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Supreme Court directs sale of personal assets of Unitech directors for recovery of funds

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Supreme Court directs sale of personal assets of Unitech’s directors for recovery of funds.

The Supreme Court on Tuesday directed the committee to sell the personal assets of Unitech's directors for recovery of funds. The next date of hearing has been fixed for September 11.

Earlier, the apex court has constituted a committee to deal with cases related Unitech
The committee can auction unencumbered personal assets of directors.
On July 27, the Supreme Court refused to grant custody parole to embattled real estate company Unitech’s promoter Sanjay Chandra and directed that the Rs 25 crore deposited with the court registry be disbursed among homebuyers who have sought a refund.
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