September 9,2017:

Apex Court added that,”We do not know from where you will arrange the money. But you have to do it for all the projects of Unitech.”

Supreme Court has told Unitech’s incarcerated MD Sanjay Chandra that he has to settle with each and every homebuyer by end of this financial year, that is March 31, 2018.

While deferring the consideration of Chandra’s plea for interim bail till September 15,2017, Apex Court  Bench comprising of CJI Dipak Misra and Justice A M Khanwilkar and Justice D Y Chandrachud expounded that, “You have to pay back the money or allot the flats or the plots to all the investors by end of this financial year.”

Apex Court had appointed Advocate Pawan Shree Agrawal as the Amicus Curiae and asked him to compile the project-wise details of money so far received from the home or the plot buyers by the Unitech for its various projects.

Court has asked all the homebuyers to furnish their choice flat, plot or the refund on an affidavit and submit it to Amicus Curiae to help him compile data for Court.

Chandra’s Counsel pleaded that his client had complied with conditions imposed on him by Court by depositing a total of Rs 20 crore and sought a interim bail.

He further added that,”My client wants to settle with each and every homebuyer. But for that he needs to go to his office to chalk a detailed plan”.

On Friday, Investors in another project, Residences in Gurugram, joined in for seeking refund or allotment of the flats. SC told Chandra that even if it granted him interim bail next Friday, it would ask him to periodically deposit the substantial amounts with Court Registry to refund the homebuyers.

Apex Court Bench has asked Chandra to wait till next Friday till then the detailed chart on the various projects, money invested by the Home Buyers and their choice would come before the Court.

Source - PTI