New Board To Take Over Unitech As Top Court Approves Centre's Proposal

The Supreme Court on Monday accepted the central government's proposal to take over Unitech and appoint a seven-member board to replace the management of the beleaguered real estate company. The top court also approved the appointment of former IAS Officer Yudvir Singh Malik as chairman and managing director of the new board of Unitech. The matter relates to alleged siphoning of home-buyers' money by Unitech, whose promoters Sanjay C...