SC says NCLT order on Unitech 'disturbing'

Unitech has challenged govt takeover of board

The Supreme Court has expressed its unhappiness over the National Company Law Tribunal (NCLT) passing an order against realty major Unitech, putting at risk the court’s efforts to provide relief to homebuyers. The apex court said the NCLT should have taken its leave before allowing the government to take over Unitech’s management.  

Last week, the tribunal ordered the supersession of Unitech’s board after the government filed a company law petition alleging mismanagement. The move had come amid the apex court’s efforts, since September, to find a solution for thousands of homebuyers, a majority of them in the National Capital