Crisis-hit realty firm Unitech Ltd today cancelled its board meet to consider financial results for the quarter and year ended March 31, 2018 due to non-availability of adequate number of independent directors.
The company has called the board meeting on June 11, according to a BSE filing.
Unitech said that the meeting of the audit committee which was scheduled today to review the audited financial results for the quarter and year ended March 31, 2018, has been "adjourned due to non-availability of adequate number of 1ndependent directors (want of quorum)".
The meeting of the board was adjourned by the chairman to June 11, 2018 after ascertaining the availability of adequate number of directors on that date, it added.
"Accordingly the items with respect to the audited financial results for the quarter and year ended March 31, 2018 and other business will now be considered on Monday, June 11, 2018," Unitech said.
Gurgaon-based realty firm is facing huge protest and litigations from home buyers due to significant delays in completion of housing projects.
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