SC Allows Unitech Board to Seek Police Help
ECONOMY & POLICY

SC Allows Unitech Board to Seek Police Help

The Supreme Court of India has granted permission to the Unitech board, appointed by the Centre, to seek police assistance in managing disturbances affecting its operations. This decision comes amid ongoing challenges faced by the company, which has been under scrutiny due to various regulatory and operational issues.

The court's ruling allows the board to request police support to ensure safety and security during interactions with stakeholders and while conducting business activities. This move is seen as a proactive measure to prevent potential disruptions that could hinder the board’s efforts to stabilize and manage Unitech effectively.

Unitech has been grappling with significant challenges, including financial difficulties and disputes with homebuyers, which have raised concerns about project delays and completion timelines. By enabling police assistance, the Supreme Court aims to ensure that the board can operate without external disturbances that may exacerbate the situation.

This ruling is part of a broader effort to restore confidence in Unitech and facilitate smoother operations under the newly appointed board. The board's ability to work effectively with law enforcement will be crucial in addressing the challenges ahead and implementing necessary measures to resolve outstanding issues with stakeholders.

As the situation unfolds, stakeholders will be closely monitoring how this decision impacts Unitech's operations and its efforts to navigate through these turbulent times in the real estate sector. The court's involvement underscores the significance of regulatory oversight in corporate governance and the importance of maintaining order in such complex situations.

The Supreme Court of India has granted permission to the Unitech board, appointed by the Centre, to seek police assistance in managing disturbances affecting its operations. This decision comes amid ongoing challenges faced by the company, which has been under scrutiny due to various regulatory and operational issues. The court's ruling allows the board to request police support to ensure safety and security during interactions with stakeholders and while conducting business activities. This move is seen as a proactive measure to prevent potential disruptions that could hinder the board’s efforts to stabilize and manage Unitech effectively. Unitech has been grappling with significant challenges, including financial difficulties and disputes with homebuyers, which have raised concerns about project delays and completion timelines. By enabling police assistance, the Supreme Court aims to ensure that the board can operate without external disturbances that may exacerbate the situation. This ruling is part of a broader effort to restore confidence in Unitech and facilitate smoother operations under the newly appointed board. The board's ability to work effectively with law enforcement will be crucial in addressing the challenges ahead and implementing necessary measures to resolve outstanding issues with stakeholders. As the situation unfolds, stakeholders will be closely monitoring how this decision impacts Unitech's operations and its efforts to navigate through these turbulent times in the real estate sector. The court's involvement underscores the significance of regulatory oversight in corporate governance and the importance of maintaining order in such complex situations.

Next Story
Infrastructure Energy

Innovative Tech Crucial for Coal Growth

G. Kishan Reddy, Union Minister of Coal, Mines, and Parliamentary Affairs, emphasized the critical role of innovative technology in enhancing India's coal production to meet the rising energy demands. Speaking at a recent event, Reddy highlighted that technological advancements, particularly in mining operations, can significantly improve coal output and efficiency while addressing the current challenges faced by the coal sector. The minister stated that the adoption of automated mining, digital solutions, and mechanized operations is vital for modernizing the coal industry. These innovations ..

Next Story
Infrastructure Energy

31 Bidders Compete for Coal Mines

The 10th commercial coal mine auction in India has attracted significant interest, with 31 bidders, including major players such as JSW Steel, ACC, and NMDC, competing for coal mining blocks. This auction, organized by the Ministry of Coal, is a critical component of India’s strategy to boost domestic coal production and reduce dependency on imports for power generation and industrial needs. The auction features multiple coal blocks available for commercial mining, and the strong participation of leading companies highlights the growing demand for coal resources to ensure stable and secure s..

Next Story
Infrastructure Energy

B.Grimm Power Eyes LNG Supplies

Thailand's B.Grimm Power, a prominent energy company, is actively seeking both short-term and long-term supply agreements for liquefied natural gas (LNG) to meet its growing energy needs. As Thailand continues to transition its energy infrastructure and reduce reliance on coal, LNG has emerged as a critical resource for ensuring energy security and sustaining power generation. The company is exploring LNG sourcing options globally to secure a reliable supply of natural gas, reflecting the increasing demand for cleaner energy in Thailand’s power sector. With the global LNG market experiencing..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000