Supreme Court directs Unitech to refund Rs 17 crore to 39 homebuyers

20 Oct 2016

Supreme Court has directed Unitech to refund the principal cost of flats to 39 buyers who had booked apartments in a Gurgaon project seven years back and have still not got possession of their houses. The refund would cover the principal component paid by the homebuyers (Rs 17 crore), but the top court is yet to take a call on the interest component. The case will be heard next on January 11, 2017. The company has already deposited Rs 15 crore with the court's registry in compliance with an August 15 order. A Supreme Court has ordered the company to deposit Rs 2 crore more within four weeks.

Unitech, one of the leading real estate companies, has several business segments relating to residential, commercial, Information Technology (IT) parks, retail, amusement parks, etc.

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