Prabhakar Singh Appointed As Govt\'s New Nominee Director On Unitech\'s Board

Prabhakar Singh Appointed As Govt's New Nominee Director On Unitech's Board

The board of the company has been superseded by the central government on the Supreme Court's order. The Top Court allowed the Centre to take total managerial control of the realty firm.

04 February, 2020

Unitech Ltd has appointed Prabhakar Singh as government's nominee director on the Unitech's board. Previously he has been serving as the director general of CPWD.

"Prabhakar Singh is appointed as nominee director of the central government on the board of directors of Unitech Ltd, with immediate effect," the company said.

Earlier, HDFC MD Renu Sud Karnad, Hiranandani group MD Niranjan Hiranandani, Embassy group CMD Jitu Virwani, NBCC's former CMD A K Mittal, B Sriram (former MD and CEO of IDBI Bank), and Girish Kumar Ahuja (independent director of SBI) have been appointed as government's nominee directors on the board.

Former student of IIT Kharagpur, Prabhakar Singh have authored of 4 books in which two in English, titled “Angel of Love & Life", "Blessing of Love" and two in Hindi titled "Aatmanubhuti" and "Teri Yaad Mein" – released by Hon’ble President of India and Hon’ble Vice President of India.

Honored as Best Chief Engineer Award by Hon’ble Minister of Urban Development. Singh has been the Winner of prestigious International Award for outstanding performance in engineering Platinum Award of “Emersion Cup 2008”.

The board of the company has been superseded by the central government on the Supreme Court's order. The Top Court allowed the Centre to take total managerial control of the realty firm and appoint a new board of nominee directors. The decision would bring respite to over 12,000 hassled home buyers of Unitech.

The top court had directed that the existing board of directors of the company would stand superseded. It had refused to appoint Unitech Group founder Ramesh Chandra, as a member of the new board.The new board has been asked to come out with a resolution framework within two months.

Chandra's sons, Ajay Chandra and Sanjay Chandra, are in jail after the company defaulted on giving possession of flats to its homebuyers on time. Both were serving as managing directors of the company before the board was superseded.