Unitech Case: Supreme Court Refuses to Direct Surplus Noida Land's Return - (11 Feb 2020)

PROPERTY

Supreme Court has refused to pass any order on the plea of Noida Authority seeking claim over 277 acre surplus land allocated to crisis-hit Unitech Ltd on lease for developing housing complexes, which were, however, not built. The total worth of the land is nearly Rs 8,000 crore. The Court said at this stage, where a newly constituted board of directors is in the midst of a resolution plan, it could not allow Noida Authority to gain access to the surplus land.

Tags : SUPREME COURT   UNITECH  

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