SC directs Dhingra committee to auction Unitech’s two land parcels in Kolkata

SC directs Dhingra committee to auction Unitech’s two land parcels in Kolkata
22/08/2018 , by , in News/Views

The Supreme Court today directed the justice SN Dhingra committee to auction two unencumbered land parcels of Unitech situated in Kolkata.

Ranjit Kumar Sinha and Abhinav Agrawal, counsels of Unitech informed the court that Candor Investment is interested in buying both the land parcels for Rs 116 crore.

Candor Investment, which managed property for London-based Unitech Corporate Parks Plc (UCP), was bought by Brookfield Asset Management in 2014.

The committee headed by former Delhi High Court judge was formed to identify and auction the unencumbered properties of the company, sale proceedings of which will be used to refund the homebuyers looking for money along with other interested parties.

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