Real estate investment company Unitech group secured a Rs 2,000-crore investment from two asset reconstruction companies to complete pending projects and is scouting for more investors for additional funding as the date set by the Supreme Court to deposit money nears in July, said two persons close to the development
I have paid more than 95% of the property cost of 1.4cr in 2010 through HDFC convention scheme. Turned out to be the biggest fool on earth with heavy interest pay out. Should I stop paying my EMI since there is hardly any hope to get this property now and forego my interest and principal already paid to HDFC.
Unitech Ltd has recently given a list of its unencumbered land properties located at Agra, Varanasi, Bangalore and near Chennai.
A few days back it was Direct Tax fraud (TDS on employees salary not deposited) now its Indirect tax fraud (GST credit wrongly claimed.)
Hope they have unencumbered properties !! SC should ideally make SIT to find benami properties of defaulting real estate developers
Unitech owes Rs 3,000 crore to Noida authority, Rs 200 crore to LIC, among others.
Another story of misused of maintenance money
According to the complaint filed by Daryani, he had booked a residential apartment in Unitech's proposed project, Unitech South Park in Sector 70 of Gurgaon in Haryana.
firm failed to hand over the possession of a property even after four years of the promised delivery date.
Directing the builders to refund the amount within three months, at an interest of 10%, the NCDRC also asked Unitech to pay the complainant ₹25,000 as litigation charges.
stated that over Rs 1000 crore could be recovered by selling land in the Unitech Golf and Country Club project located in Noida.
Source : http://www.moneycontrol.com//news/business/real-estate/unitech-seeks-more-time-to-deposit-rs-750-crore-with-sc-2482049.html/news/business/real-estate/unitech-seeks-more-time-to-deposit-rs-750-crore-with-sc-2482049.html
Around 2,000 employees claim are affected — 1,300 left since 2013 and 700 still serving in its offices in Gurgaon, Delhi, Mumbai and Bengaluru
The International agency, Currie & Brown gave a presentation about four housing projects’ accounts: two projects of Unitech Group and one each of Aims Max Gardenia Developers Private Limited and Granite Gate Developers Private Limited. In the first phase, the agency had sought details from 14 builders that include Sikka Infrastructure Private Limited, Unitech Limited, Unitech Acacia Projects Private Limited, Aims Max Gardenia Developers Private Limited, Granite Gate Developers Private Limited, Omaxe Build Home Private Limited, Pebbles Prolease Private Limited, Logix City Developers Private Limited, Gardenia Aims Developers Private Limited, Supertech Limited, Three C Projects Private Limited, Red Fort Jahangir Properties Private Limited, Logix Infratech Private Limited and one more project of Unitech Limited.
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