Tag: Unitech

Latest StoriesRegulatory

SC Gives Parsvnath a Week to Pay Homebuyer Dues or Face Jail

NEW DELHI: On Monday, the Supreme Court provided Parsvnath Developers with one final week to comply with orders favoring homebuyers in Gurugram. They must deposit the full amount along with 12% interest with the court registry. The bench, including Chief Justice Surya Kant and Justices Joymalya Bagchi and V Mohana, issued strong warnings to the real estate firm and its directors, stating that failure to comply could lead to imprisonment. “The entire country has been misled,” the Chief Justice remarked, threatening jail time if they do not adhere to the orders within a week. He emphasized that they are treating…

IndustryLatest Stories

Unitech Q4 FY26 Net Loss Grows to ₹441 Crore

NEW DELHI: Realty firm Unitech Ltd announced a consolidated net loss of Rs 441 crore for the quarter ending March 2026, compared to a net loss of Rs 309.95 crore in the same quarter last year. Total income increased to Rs 145.31 crore in Q4 FY 2025-26, up from Rs 126.34 crore in the previous year, as per a regulatory filing. Throughout FY26, the company’s net loss amounted to Rs 2,455.73 crore, an improvement from a loss of Rs 2,593.47 crore in the previous financial year. Total income for the year rose to Rs 566.80 crore, up from Rs 396.80…

IndustryLatest Stories

Unitech Nominee Director Uma Shankar Resigns

NEW DELHI: Realty company Unitech Ltd announced on Friday that its nominee director, Uma Shankar, has resigned for personal reasons. According to a regulatory filing, Unitech stated that Shankar, a Non-Executive nominee director, “resigned from the board of the company effective March 7, 2026.” The company expressed regret for the delayed notice of her resignation to the stock exchanges, attributing this to an “unintentional oversight.” The Supreme Court directed the Union government on December 18, 2019, to establish an independent management for Unitech Ltd. In compliance, the Ministry of Corporate Affairs proposed a new board of directors, which the apex…

Latest StoriesResidential

IBBI Considers Resolution Benefits for Homebuyers

NEW DELHI: The insolvency regulator has proposed easing regulations to ensure that all homebuyers affected by bankrupt real estate developers can benefit from resolution gains, including those who have not submitted claims. This initiative could potentially aid thousands of allottees nationwide. In a discussion paper, the Insolvency and Bankruptcy Board of India (IBBI) has recommended enhanced disclosures regarding stressed firms’ assets, stricter safeguards for committees of creditors lacking financial institution representation, and proper documentation for liquidation orders. “The Information Memorandum related to the stressed firm should include all allottees’ details—names, amounts owed, and allotted units—as per the corporate debtor’s records,…

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…

Latest StoriesRegulatory

Greater Noida: Builders’ ₹4,000 Cr Dues Amid Legal Issues

NOIDA: The Greater Noida Industrial Development Authority (GNIDA) is currently grappling with unpaid dues totaling Rs 4,081 crore from 21 significant real estate projects. Legal proceedings at various levels—from the National Company Law Tribunal (NCLT) to the Supreme Court—have created obstacles for the Authority in recovering these amounts. A report from GNIDA indicates that each project owes over Rs 100 crore, with Supertech Ltd at the forefront as the largest defaulter. The company has outstanding payments of Rs 903 crore, attributed to three projects—Rs 312 crore for one in Sector 1 and Rs 590 crore across two in Sector 16B.…