SC accepts Centre's proposal to take management control of Unitech

The Supreme Court on Monday accepted the Central government's proposal to take over the management of embattled real estate company -- Unitech and appoint former IAS officer Yudvir Singh Malik as its chairman and managing director (CMD).

The Supreme Court on Monday accepted the Central government's proposal to take over the management of embattled real estate company -- Unitech and appoint former IAS officer Yudvir Singh Malik as its chairman and managing director (CMD). A bench headed by Justice DY Chandrachud said that the court will not conduct any hearing on the issue of home buyers and their concerns for two weeks.

According to the Centre's proposal, the new board of the group will include Anup Kumar Mittal, Niranjan Hiranandani, P Shriram and Geetu Virmani. The inquiry against Unitech will also continue till the apex court hears the matter again. (ANI)