Tag: unitech ltd

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Unitech CEO’s Term Extended by One Year

NEW DELHI: Unitech Ltd announced on Tuesday that its board has sanctioned a one-year extension for CEO Ashok Kumar Yadav. In a regulatory disclosure, Unitech, based in Gurugram, stated that during last month’s board meeting, the extension was approved effective from February 11, 2026, or until further notice, whichever comes first. In 2020, the central government intervened and superseded the company’s board following a Supreme Court ruling. The Ministry of Corporate Affairs suggested the formation of a new board, which the Supreme Court ratified on January 20, 2020. Unitech Ltd is currently dealing with a severe cash shortage, leading to…

Latest StoriesRegulatory

SC: No tolerance for Unitech project order non-compliance

NEW DELHI: The Supreme Court stated on Thursday that it will take a stringent stance against any state authorities that fail to comply with its orders regarding the real estate group Unitech Ltd. The court cautioned against any impediments to the completion of stalled housing projects. A bench comprising Justices J B Pardiwala and K V Viswanathan established a priority schedule for addressing issues related to Unitech and mandated that state development authorities—such as the Noida Authority, Greater Noida Authority, and Haryana’s Town and Country Planning Department—must grant all necessary approvals. The bench indicated, “We will seriously consider any non-compliance…

IndustryLatest Stories

Unitech’s Q2 FY26 Loss Shrinks to ₹739 Crore

NEW DELHI: Realty company Unitech Ltd has narrowed its consolidated net loss to ₹738.72 crore for the most recent September quarter. This is a decrease from a net loss of ₹766.76 crore in the same quarter last year. Total revenue rose to ₹151.01 crore in the second quarter of this fiscal year, up from ₹79.94 crore during the previous year, as per a regulatory announcement. In 2020, the company’s board was superseded by the central government following a directive from the Supreme Court. Following this, the Ministry of Corporate Affairs proposed a new board’s formation, which received Supreme Court approval…

Latest StoriesRegulatory

Sebi, stock exchanges drop fines on Unitech

The Securities and Exchange Board of India (Sebi), along with the NSE and BSE, has decided to waive fines and penalties previously imposed on Unitech due to non-compliance issues linked to its former management, according to the government-appointed board of the embattled real estate firm. The leading stock exchanges have also lifted trading restrictions on Unitech securities. Starting October 7, Unitech Ltd’s securities will be transitioned from the restricted Z category to the actively traded B category on the BSE, while the NSE will move the company from the restricted BZ series to the default EQ series. “Shareholders have long…