SC sets up panel to auction Unitech’s properties


SC sets up panel to auction Unitech’s properties

The Supreme Court today set up a three-member panel headed by former Delhi High Court judge Justice S N Dhingra for “expeditious” auction of real estate major Unitech Ltd’s unencumbered immovable properties of over 600 acres to refund the money to hassled home buyers.

Considering the plight of home buyers who are “waiting with concern to get their money refunded”, a bench headed by Chief Justice Dipak Misra gave the liberty to Justice Dhingra to nominate a Chartered Accountant and a valuer for speedy auction of over 600 acres of unencumbered land of the firm.

“We constitute a Committee headed by Justice S N Dhingra, former Judge of the High Court of Delhi. Justice Dhingra would be at liberty to nominate a Chartered Accountant and a valuer accredited with the Delhi High Court or this Court.

“Justice S N Dhingra shall formulate suitable terms and conditions for auction of the above properties on as-is-where is basis, to be notified in the newspapers,” the bench, also comprising Justices A M Khanwilkar and D Y Chandrachud, said. Read More

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