NCLAT Hauls Unitech Ltd For Defaulting Payment To Deposit Holders [Read Order]

The National Company Law Appellate Tribunal has directed Unitech Limited, once India's second largest real estate investment company to repay the amount(s) to its deposit holders pendent lite along with future interest @ 12.5% p.a. from the date of maturity of the respective FDRs. It has also imposed cost of Rs.50,000/- to each of the deposit holders, setting aside the order of NCLT,...