Supreme Court appalled at order passed by NCLT, says Unitech lawyer

Unitech's lawyer M.L. Lahoti on Wednesday shared that the Attorney General (AG) of India, K. K. Venugopal appeared before the Supreme Court today and apologised on behalf of the Central government's decision to approach National Company Law Tribunal (NCLT) in the Unitech case. He also said the Attorney General admitted that it was wrongful of the Central government to intervene in the matter, when it was monitored and ceased by the Supreme Court. SC on Wednesday stayed the NCLT order of December 8, which barred Unitech directors from acting as co-directors of the company over alleged mismanagement of funds and allowed the centre to take over management of the company. The lawyer also pointed that SC has passed various orders since August 2017 in the Unitech flat buyers' case. The last order of the Court declared that Sanjay Chandra, the Managing Director of Unitech, will only be released after he deposits 750 crores of rupees before the Supreme Court."The Court also opened a portal where any flat buyer can determine whether he or she wants a refund or the position of his apartment," he added.