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In 2020, the central government intervened and superseded the company’s board following a Supreme Court ruling.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 significant delays in its housing project deliveries, primarily in the Delhi-NCR region.
