Breaking News

You are here » Indian-Commodity  :  Top News  :  Supreme Court directs Unitech to refund Rs 15 crore to Gurgaon housing project investors

18-Aug2016

Supreme Court directs Unitech to refund Rs 15 crore to Gurgaon housing project investors

Unitech has been directed by the Supreme Court to deposit Rs 15 crore with the court registry representing the principal amount paid to the builder by 38 home buyers in its much-delayed housing projects Unitech Vistas in Gurgaon and another project in Noida. The builder has been given two weeks to deposit Rs 5 crore and the rest by September 30, 2015.

Earlier, more than two dozen home buyers of Unitech's housing projects in Noida and Gurgaon had approached the National Consumer Disputes Redressal Commission after the builder failed to give them possession of the flats as scheduled. The Commission has asked Unitech to refund the home buyers, with interest.

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


Related News

View all news

Turmeric futures trade higher on NCDEX

Turmeric futures traded higher on NCDEX with widening of portfolios by market participants due to improving physical demand for the crop. However, expectation of increase in fresh arrivals at the spot......

Physical Rubber prices witness firmness on Monday

Physical Rubber prices showed firmness on Monday due to ongoing supply crunch in the domestic market and on expectation of a pick-up in demand from tyre manufacturers. Spot prices for RSS-4 variety rose......

Gold futures edge up on MCX

Gold futures edged up on MCX as speculators built up fresh positions on the back of a firming trend in the global markets as the dollar languished near two-week lows on growing expectations that the Fed......

Top News

View all news

Ladam Affordable Housing to enhance limits of Corporate Guarantee given to AU Small Finance Bank

Ladam Affordable Housing has decided to enhance the limits of Corporate Guarantee given to AU Small Finance Bank from Rs 15 crore to Rs 18.5 crore for the purpose of financing the business/ business related......

Govind Poy Oxygen planning to enter into lease agreement

Govind Poy Oxygen is planning to enter into Lease Agreement with Babaso Anandrao Budhale, for lease of land and building for the use of the company and agreement with Nasik Oxygen Company, to give machinery......

RIL's telecom arm terminates agreement with Reliance Communications

Reliance Industries' (RIL) telecom arm -- Reliance Jio Infocomm (Jio) has terminated Master Agreement and Spectrum Trading Agreement executed between the company and Reliance Communications and its affiliates......