Unitech

Directions were also issued to advocate Pawan Shree Agrawal to prepare a list of those litigants who filed civil cases against Unitech to enable disbursement of ₹38 crore lying with the top court’s registry. Unitech had deposited the money pursuant to the court orders that it would consider the a bail plea by the company’s managing director Sanjay Chandra only after a deposit of ₹750 crore was made.

Chandra has been in jail since April last after. He was arrested in connection with a cheating case registered by the Delhi Police a complaint it received from buyers who had invested in a Unitech project in Gurgaon.

Unitech’s counsel, Abhimanyu Bhandari, opposed refunding money to homebuyers and urged the court to consider using the deposit to complete under-construction units. He argued that refunds would benefit only a few, while construction would help a large number of consumers who were waiting for their houses. “Surplus units will be created, which could be sold to generate money to refund those who want their money back,” Bhandari said. But the court did not agree with Bhandari. A total of 4,688 homebuyers are claiming a refund of ₹1,865 crore from Unitech for flats booked in various projects that have not been delivered by the company.