SC seeks centre's proposal on ways to complete stalled Unitech projects

The Supreme Court Friday directed the Centre to come up with a proposal for construction of stalled projects of embattled real estate major Unitech Ltd within ten days, so that over 16,000 hassled homebuyers are not left in lurch. The top court said that the Centre should suggest the modalities and name of the third-party agency like the National Buildings Construction Corporation (NBCC) Ltd which could construct the pending projects of Unitech Ltd in a time bound manner. The Unitech Ltd resisted the suggestion that the pending projects be handed over to a third party like the NBCC and said they were not able to deliver even in the case of Amrapali, another embattled real estate major. A bench of justices D Y Chandrachud and M R Shah was told by Attorney General K KVenugopal that a third party could be involved in the construction of pending projects and a high-powered committee headed by a retired high court judge could oversee the construction.