NewDelhi: The Supreme Court on Tuesday expressed dissappointment over Centre’s decision to approach company law tribunal National Company Law Tribunal (NCLT) over the Unitech case.
SC said that the Centre should have taken prior permission from the apex court when it was already dealing with the case. Centre has sought time till Wednesday to respond to it.
The Supreme Court was hearing the appeal of Unitech Limited challenging the recent order of the company law tribunal allowing the Centre to take over its management.
Unitech said that SC had given time to Sanjay Chandra to negotiate from jail to sell assets to generate money for refund to home buyers and yet Centre breached discipline to go before NCLT.
The NCLT , on December 8, had suspended all the eight directors of the realty firm over allegations of mismanagement and siphoning of funds and had authorised the Centre to appoint its 10 nominees on the board.
The NCLT order had come after the Centre moved the panel with a view to protect the interest of nearly 20,000 home buyers.
Bureau Report
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