SC accepts Centre's proposal to takeover management control of Unitech

PTI | Jan 20, 2020, 16:31 IST

Supreme Court (file photo)

NEW DELHI: The Supreme Court Monday accepted the proposal of the Centre to take over the management control of embattled realty firm Unitech Limited.
A bench headed by Justice D Y Chandrachud gave two months to the new board of Unitech to prepare the resolution framework of the company and sought its report.

The bench, also comprising Justice M R Shah, granted 2-month moratorium to the new board from any legal proceedings against the company's management.
It said the Board will appoint a retired apex court judge to monitor the preparation of resolution framework by the Board.

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