SC halts govt takeover of Unitech management
New Delhi, Dec 13 : The Supreme Court on Wednesday stayed the order of National Company Law Tribunal (NCLT) allowing Centre to take over management of real estate firm Unitech.
A three-judge bench, headed by Chief Justice of India Dipak Misra and also comprising Justices A M Khanwilkar and D Y Chandrachud, said the NCLT should have taken its leave before allowing the government to take over Unitech’s management.
Attorney General (AG), K K Venugopal, top law officer appearing for the Central government, told the Court that the Union of India should not have approached the NCLT when the Apex Court was already seized of the matter relating to Unitech's failure to refund home buyers.