BSE, NSE seek clarification from Unitech on arrest of its MDs

The managing directors of Unitech Sanjay Chandra and Ajay Chandra have been arrested late on Friday with the aid of the commercial offences wing of the Delhi Police in a case related to delay in supply of a undertaking in Gurugram

major stock exchanges Bombay inventory exchange (BSE) and nationwide inventory trade (NSE) on Monday sought clarification from real property firm Unitech on the news concerning the arrest of its managing directors final week.

whereas BSE has sought clarification from Unitech, NSE has suggested the corporate to provide clarification/confirmation on the news merchandise in detail.

"in this regard, alternate have urged the corporate to supply clarification/confirmation on the information merchandise in detail together with the next: a) whether or not you/firm are aware of any data that has now not been introduced to the Exchanges which might give an explanation for the aforesaid motion within the trading," the NSE discover stated.

The managing directors of Unitech Sanjay Chandra and Ajay Chandra have been arrested late on Friday with the aid of the economic offences wing of the Delhi Police in a case associated to extend in supply of a mission in Gurugram.

They were produced earlier than the Patiala home court on Saturday, which sent the Unitech promoters to police custody till Monday. they're expected to be produced in a Delhi court lately.

The case relates to a undertaking, Anthea floors, in Gurugram, whose patrons accused them of no longer finishing the venture on time despite accumulating money from shoppers.

The accused have been booked below part 406 of the Indian Penal court for felony breach of trust, part 420 for dishonest and section 120B for legal conspiracy.

The response from Unitech is awaited on the same.

In January last yr, Unitech chairman Ramesh Chandra, managing directors Sanjay and Ajay Chandra, and director Minoti Bahri, needed to spend an evening in prison.

The complaint was once filed with the aid of chartered accountant Sanjay Kalra and his industry associate Devesh Wadhwa, who claimed to have booked a property in Unitech's Habitat residences in greater Noida however weren't given timely possession and the accused had did not refund their money.

The Supreme courtroom recently also directed Ramesh Chandra, chairman of real property firm Unitech, managing administrators Ajay Chandra and Sanjay Chandra and all of the different administrators of the corporate to be present within the court docket on may just 5, and also requested the builder to post the ultimate inspiration for the completion of its pending projects.

Unitech has been surrounded with a variety of litigations in quite a lot of courts of legislation as a result of lengthen in their projects. around thirteen,000 residence buyers in forty one initiatives of Unitech, primarily in Noida and Gurgaon, are caught at current.

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