Unwise move

Govt action in Unitech case defies logic

The affairs of real estate giant Unitech have taken a new and disturbing turn. The company is in trouble essentially because it has failed to honour its contracts; it is supposed to return Rs 2,000 crore to various customers after it did not deliver around 19,000 flats, although it had already accepted Rs 7,800 crore as payment. In addition, it needs to return Rs 723 crore to 51,000 holders of corporate fixed deposits. The company, naturally, says it does not have the money. Where the story takes a truly disturbing turn is in the recent decisions by the government and