India’s second largest real-estate investment company, Unitech has found itself in trouble.
The Supreme Court has indicated that the company will have to refund money to investors in a delayed Noida housing projects case.
Responding to the court, Unitech told the SC that it doesn’t have the money to refund the flat buyers.
The court has now directed Unitech Builders to provide a list of buyers who have sought refund from the company.
The Apex Court has set the next date of hearing to August 17.
Earlier on July 2, the Apex Court had directed the firm to deposit Rs 5 crore by August 5 for delaying the completion of a residential project Burgundy it had launched on the Noida-Greater Noida Expressway.