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Unitech to open escrow account, use money to complete projects: Delhi High Court

Unitech to open escrow account, use money to complete projects: Delhi High Court

 The Delhi High Court has granted an opportunity to beleaguered real estate major Unitech Ltd to complete its delayed housing projects and hand over possession of flats to buyers by opening escrow accounts and using the money deposited in it solely for these projects.

Unitech's independent director Sanjay Bahadur resigns

In a regulatory filing, Unitech informed that "Sanjay Bahadur, a non-executive independent director of the company, has resigned from the office of director of the company w.e.f. February 23, 2016 vide his resignation letter dated February 23, 2016."

Know why Unitech top bosses had to spend a night at Tihar Jail despite getting bail

Know why Unitech top bosses had to spend a night at Tihar Jail despite getting bail

Zee Media Bureau

New Delhi: Real estate major Unitech Ltd top bosses, facing charges of alleged cheating, on Tuesday walked out of Tihar Jail after sending a night there.

Here's why they had to spend a night at Tihar Jail.

Unitech dismisses rumours of repayment default after shares fall

Property firm Unitech Ltd denied on Wednesday what it called "false and misleading" market rumours of the company defaulting on repayments to lenders, as its stock plunged as much as 50 percent, hitting its lowest in 10 years.

Unitech sales bookings fall by 53% in first half of FY'14

Realty major Unitech Ltd's sales bookings have dropped by 53 percent during first six months of this fiscal at Rs 717 crore due to slowdown in the property market.

2G: SC notice to Sanjay Chandra on CBI plea to cancel his bail

The Supreme Court on Friday agreed to hear CBI's plea for cancellation of bail granted to Sanjay Chandra, MD of Unitech Ltd, in 2G case for allegedly trying to "sabotage the trial" and issued notice to him.

Unitech to reimburse rent to buyer for delay in giving flat

Realty major Unitech Ltd has been directed by the apex consumer commission to reimburse nearly Rs 14 lakh spent by a customer on rent after the flat for which he paid over Rs 1.37 crore in 2007 was not handed over to him till date.

Unitech clocks 13-fold jump in Q4 profit

Realty major Unitech Ltd Thursday reported over thirteen-fold jump in consolidated net profit at Rs 30.33 crore for the quarter ended March 31 on account of higher revenues from real estate segment.

Telenor, Unitech settle dispute over JV Uninor: HC told

Norwegian firm Telenor and Indian real estate major Unitech Ltd today told the Delhi High Court that they have put an end to their ongoing dispute over the auction-sale of their joint venture (JV) Uninor by arriving at an amicable settlement.

Unitech sales booking in Q1 drops 31% at Rs 701 crore

Real estate major Unitech Ltd sold properties worth Rs 701 crore during the first quarter of this fiscal, down by 31 percent as compared to the year-ago period.

2G case: CBI opposes Chandra's plea to visit Thailand

Three telecom firms -- Reliance Telecom Ltd, Swan Telecom and Unitech (Tamil Nadu) Wireless Ltd -- were also put on trial by the court.

Unitech Q4 net profit plunges 98%

Unitech Ltd, the country's third largest real estate developer by market value, Wednesday reported 97.79 percent dip in consolidated net profit at Rs 2.26 crore for the quarter ended March 31, 2012 on lower sales.

Unitech was ready for 2G spectrum in advance: Court told

Unitech Ltd, facing trial in the 2G spectrum allocation case, had readied itself four months in advance with the demand draft to secure the government's letters of intent (LoIs) for grant of radio waves to it, a former executive of the firm told a Delhi Court on Tuesday.

Unitech defends it right to seek arbitration

Realty company Unitech on Thursday told Company Law Board that its dispute with Norwegian firm Telenor over their joint venture Uninor was fit case for arbitration.

Legality of Telenor claim for damages can be examined: Govt

With Norwegian telecom operator Telenor claiming damages for cancellation of its 2G licences, the government Tuesday said the legality of the notice could be examined within the parameters of Indian law.

Uninor examining legal options, rules out quitting India

Unitech Wireless Ltd is a joint venture between Norway-based Telenor Group and India's Unitech Ltd.

2G case: Unitech MD withdraws plea seeking nod to go Singapore

Sanjay Chandra, Managing Director of Unitech Ltd and a co-accused in the 2G case, today withdrew his plea from the Delhi High Court seeking permission to go to Singapore for treatment of his 9-year-old son.

Unitech may sell tower-making business: Report

Real estate developer Unitech Ltd is trying to sell its telecom tower-making business for up to Rs 7.5 billion (USD 157.6 million) as part of its deleveraging initiatives, the Daily News & Analysis said on Tuesday.