New Delhi: The Supreme Court on Wednesday asked the directors of Unitech and its subsidiaries to submit a list of their personal assets, and said that it would consider auctioning them if the company is not able to raise money to pay homebuyers.
A bench headed by Chief Justice Dipak Misra also asked the real estate company to submit a list of its encumbered assets and the extent of the encumbrances so that the court could take appropriate action.
“No director of Unitech can be allowed to alienate or create third party rights with respect to their personal property,” the court said.
The counsel for Unitech also told the court that it had submitted a sum of Rs38 crore with the registry of the apex court. This amount would be dispersed on a pro rata basis to homebuyers who had submitted their details on the designated portal for recovery or have secured a favourable order from the National Consumer Disputes Redressal Commission (NCDRC).
The company had told the court in October that it would like to monetize its unencumbered properties and other assets to recover money that would be used for the process of refunding buyers and completing projects that are stuck. It has submitted a list of its unencumbered properties to the court, in this regard.
Unitech was required to deposit Rs750 crore by December to secure bail for its director Sanjay Chandra, who is in jail in a case of alleged forgery lodged by buyers of a Unitech housing project in Gurugram. The money has not yet been deposited and repeated requests to release Chandra have been denied by court.
A total of 4,688 homebuyers are claiming a refund of Rs1,865 crore from Unitech. They have booked units in various projects undertaken by the company.
The matter will be heard next on 14 May.