SC appoints Grant Thornton as forensic auditor for Unitech

SC appoints Grant Thornton as forensic auditor for Unitech
08/12/2018 , by , in News/Views

The Supreme Court on Friday appointed Grant Thornton as the forensic auditor of Unitech. The company will look into the financials of group companies and 74 projects that Unitech has been working on from 1st January 2006.

The apex court has given Grant Thornton one weeks’ time to draft terms of audit incorporating the issues tagged with the order. The company has to report any requests and other details before the court by December 13.

The SC also directed disbursement of Rs 174 crore lying before the court’s registry to concerned people. The money will disbursed in the ratio of 50:40:10.

Home buyers who have registered on the portal created by Amicus Curiae Pawan Shree Agrawal as of 30th November 2018 and have orders from consumer courts will receive 50 per cent of the money. The court has asked Agrawal to provide list of the buyers accordingly.

About 40 per cent of the money has been directed towards construction of the projects and rest 10 per cent of the money will be given to fixed depositors of Unitech.

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