Gurgaon’s Unitech told to share financial details, project inventory

Promoters of realty major Unitech were told to be present in a meeting proposed on August 17 in Chandigarh to discuss a turnaround plan for the company

Promoters of Gurgaon-based realty major Unitech were told to be personally present in a meeting proposed on August 17 in Chandigarh to discuss a turnaround plan for the ailing company.

The directions were issued during the third meeting of the allottees grievance redressal forum (AGRF) meeting held in Gurgaon on Friday

Additional chief secretary (ACS) of the town and country planning (TCP) department P Raghavendra Rao also directed Unitech representatives to share their financial details and project-wise inventory in the meeting.

The directions were issued during the third meeting of the allottees grievance redressal forum (AGRF) meeting held in Gurgaon on Friday.

“We want the owners to be present on August 17 to discuss how the projects that are stuck can be restarted. Only they can give an undertaking that will be binding for the company,” he said, after hearing a number of complaints from buyers of the company’s different projects. The buyers complained that despite assurances from the builder, there was no progress in the projects.

Beside Unitech owners and government officials, a representative each from the buyer groups of each project of the company that is delayed will be invited to the meeting.

It was also proposed that a government nominee should be appointed to monitor every project of the company.

Deputy commissioner of Gurgaon TL Satyaprakash, who heads the AGRF, told the company, “We want to know how much money the company has for each project and why is it dependent only on bank loans.”

“Where is your money, and where is the money given by buyers?,” he asked the company.

The representatives of the developer said the directions of the forum will be followed.