News Karnataka
Saturday, June 10 2023

Unitech seeks stay of NCLT order allowing government takeover

Photo Credit :

unitech stayNew Delhi: Real estate major Unitech on Tuesday sought the suspension of an NCLT order allowing the government’s takeover of the company.

The company told the Supreme Court that the National Company Law Tribunal (NCLT) “could not pass such an order” and asked for the stay on the tribunal order allowing appointment of 10 directors on the company’s board.

Senior counsel Mukul Rohatgi told Chief Justice Dipak Misra, Justice A.M. Khanwilkar and Justice D.Y. Chandrachud that the top court in its October 30 order had said that no coercive steps would be taken against Unitech.

Giving time till Wednesday to Additional Solicitor General Tushar Mehta to take instructions on the plea by Unitech, Chief Justice Misra observed that the government should have taken the leave (permission) of the court before embarking on taking over the company management.

Share this:
Support NewsKarnataka's quality independent journalism with a small contribution.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Leave a Reply

Your email address will not be published. Required fields are marked *

Rohan City Corp

Find the best odds at 10Cric and IPL Betting 2023! Signup today and get up to a 100% deposit bonus.

To get the latest news on WhatsApp