This is a civil appeal before the Supreme Court of India concerning Unitech Ltd. The court is addressing several interlocutory applications related to the resolution plan submitted by the newly constituted Board of Unitech Limited, fixed deposit holders, ex-employees, and land sales in Bangalore and Chennai. The court is also dealing with contempt petitions related to non-compliance with previous orders.
A resolution plan has been submitted by the newly constituted Board of Unitech Limited. The court requested the amicus curiae to upload the resolution plan and collate suggestions. Fixed deposit holders of Unitech Ltd over the age of sixty years are to receive Rs 47.4 crores. Advance receipts have not been issued by the Registry. The process of initiating payments to ex-employees has commenced. Devas Global LLP was directed to deposit the balance consideration for a Bangalore land sale, but has not complied. Devas Global LLP filed for an extension of time, which has expired. Contempt Petition (Civil) No 442 of 2020 has been filed for non-compliance. Priadarshini Foundations Pvt Ltd was directed to deposit the balance consideration for a Chennai land sale, but has not.
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Court ordered Rs 47.4 crores to be released to…
Court directed Devas Global LLP to deposit the…
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This is a civil appeal before the Supreme Court of India concerning Unitech Ltd. The court is addressing several interlocutory applications related to the resolution plan submitted by the newly constituted Board of Unitech Limited, fixed deposit holders, ex-employees, and land sales in Bangalore and Chennai. The court is also dealing with contempt petitions related to non-compliance with previous orders.
A resolution plan has been submitted by the newly constituted Board of Unitech Limited. The court requested the amicus curiae to upload the resolution plan and collate suggestions. Fixed deposit holders of Unitech Ltd over the age of sixty years are to receive Rs 47.4 crores. Advance receipts have not been issued by the Registry. The process of initiating payments to ex-employees has commenced. Devas Global LLP was directed to deposit the balance consideration for a Bangalore land sale, but has not complied. Devas Global LLP filed for an extension of time, which has expired. Contempt Petition (Civil) No 442 of 2020 has been filed for non-compliance. Priadarshini Foundations Pvt Ltd was directed to deposit the balance consideration for a Chennai land sale, but has not.
…Court ordered Rs 47.4 crores to be released to…
Court directed Devas Global LLP to deposit the…
Sign in to view related legal provisions.