Insolvency row: SC stays NCLT order on govt takeover of embattled real estate firm Unitech
Unitech moves Supreme Court as Centre eyes takeover in ‘public interest’, hearing on Tuesday
Unitech had moved SC challenging the NCLT's order saying "no coercive steps for execution" can be taken in view of a November 20 order of the top court.
“We are more concerned with home buyers and not the company or those holding fixed deposits,” the top court said, while fixing the hearing for Tuesday.
Directions to this effect were issued on Monday, a media report said, adding that the names of the builders have not been disclosed.
The apex court also restrained the directors from alienating the properties of their immediate family members and cautioned that any violation of its directive would hold them liable for criminal prosecution.
The I-T department will comb through the tax history of all people who have registered property valued above Rs 30 lakh to check if any tax evaders own such properties by proxy, CBDT chairman Sushil Chandra said.
The top court also set up an amicus curiae in the ongoing case and asked directors of JAL to personally appear before it on Nov 22.
The scheme, valid until December 12, 2017, would be offered across 11 projects by Tata Housing in seven cities.
The SC's directive came as it refused to permit Jaypee Associates a part deposit of Rs 400 crore by Friday.
Last on the list of claimants under existing norms, home buyers have little hope of recovering their hard-earned money from errant builders.
Top News
Latest News
