- Unitech directed to submit complete list of unencumbered properties
- Supreme Court to likely appoint expert for this issue
- Fine of Rs 25 lakh levied on JM Finance Limited for diverting the case
Unitech submitted a list of its properties but said that it is incomplete. The Supreme Court then directed Unitech to submit the complete list of its properties. It also said that it is likely to appoint an expert for this issue.
The Supreme Court also levied a fine of Rs 25 lakh on JM Financial Asset Reconstruction Company Limited for diverting the case. JM Financial Asset Reconstruction Company Limited had taken over the loans of Unitech and said that will help the real estate company complete the pending projects.
"We are given the impression that you will pay money to court so that home buyers can be refunded. But now you are saying you have taken over loans of Unitech. You (JM Finance ARC) unnecessarily diverted the issue," said the Supreme Court. JM Financial Asset Reconstruction Company Limited, however, pleaded with the court not to impose fine as it said that it was helping Unitech complete the projects as a lender.
The next hearing is scheduled for March 26.