NIFTY 50
Real Estate

Corporate affairs ministry proposes to take over management control of Unitech

Updated : January 15, 2020 03:36 PM IST

Ministry of Corporate Affairs (MCA) has proposed to take over the management of Unitech, people aware of the development told CNBC-TV18.

The Supreme Court in its last hearing in December 2019 had asked the government to see a possibility if it can take control of Unitech to address the case of home buyers.

Now MCA has proposed to take over the management control, said the people in the know.

However, the government is likely to inform the court about the new management on January 20, when the next Supreme Court hearing is lined up.

The matter was earlier listed for January 17 but due to personal engagements of Unitech owners and promoters, it has been slotted for January 20.
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more
Live TV

recommended for you