SC orders Unitech to refund Rs 15 cr to buyers of its project

Unitech has been asked to refund Rs 15 cr to buyers of its project, by SC. Unitech Resorts Ltd., has been asked by SC in its ruling on October 19, 2016 to refund Rs 15 crores to 39 home buyers in its Gurgaon project. 

In a major development from investors point of view the apex court has directed Unitech Resorts Ltd., to deposit Rs 2 crores in four weeks with the Supreme Court registry . Almost Rs 16.55 crores have been reported as deposited amount by home buyers believed to be 39 in number, in Unitech Vista project in Gurgaon. 

Unitech is trading at Rs 6.25 per share down by 1.11 per cent or Rs 0.07 per share. The 52-w high for the stock is Rs 9.05 per share and the 52-w low is Rs 3.43 per share. The stock has given negative 20.51 per cent returns over one year period. In six months the stock has generated 21.64 per cent.