SC stays Delhi HC order directing meetings of home buyers with Unitech

Pic: Representational

New Delhi: The Supreme Court on Thursday stayed the Delhi High Court order directing meetings of home buyers with realty firm Unitech and opening escrow accounts for completion of delayed projects.

The apex court said that execution proceedings in the cases filed by the home buyers before NCDRC will continue.

Unitech Ltd's consolidated net loss narrowed to Rs 13 crore during the second quarter of the ongoing fiscal due to lower finance cost and expenses.

The Gurgaon-based developer had posted a net loss of Rs 65.70 crore in the year-ago period.

Income from operations fell to Rs 373 crore in the July-September quarter from Rs 639.60 crore in the corresponding period of the preceding fiscal, Unitech said in a regulatory filing.