SC orders forensic audit of real estate firm Unitech

7 December, 2018 4:58 PM

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SC orders forensic audit of real estate firm Unitech

The Supreme Court on December 7 ordered forensic audit of embattled real estate firm Unitech which has failed to deliver flats to thousands of home buyers on time.

A bench headed by Justice D Y Chandrachud asked accounting firm Grant Thornton to carry out the forensic audit of Unitech and all its subsidiary companies since January 2006.

Advocate Brajesh Kumar, appearing for some of the home buyers, said the court has asked Grant Thornton to give its preliminary report by December 14.

The apex court has also asked the auditor to place before it the draft terms of audit and timeframe within which it would be completed.

On July 5, the top court had asked a panel headed by former Delhi High Court judge S N Dhingra to proceed with auction of Unitech's unencumbered properties at Agra and Varanasi in Uttar Pradesh and Sriperumbudur in Tamil Nadu to refund money to the home buyers.

Also read: Five Arrested Over Charges Of Child Trafficking At Bengal's Nursing Home

Source: moneycontrol.com

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