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SC seeks details of unencumbered assets of Unitech Ltd
Posted on 12th March 2018
The Supreme Court today sought details of all unencumbered assets of embattled real estate major Unitech Limited and said that they would be auctioned to refund money to home buyers.A bench headed by Chief Justice Dipak Misra also imposed a cost of Rs 25 lakh on J M Financial Asset Reconstruction Company, which had taken over some loans advanced by HDFC Bank to Unitech Limited.

Government withdraws plea to take over management control of Unitech
Posted on 17th February 2018
The government today withdrew its petition before the National Company Law Tribunal that was filed to take over the management of crisis-hit realty firm Unitech Ltd over alleged mismanagement and siphoning of funds.

The matter was listed today before a two-member NCLT bench, headed by President MM Kumar.


UltraTech considers buying stake in Kenya’s ARM Cement: report
Posted on 12th January 2016
Nairobi/Mumbai: UltraTech Cement Ltd, backed by K.M. Birla, may buy a controlling stake in ARM Cement Ltd of Kenya, a Nairobi-based newspaper reported.

ARM announced on 23 December it’s in talks with an unidentified institutional investor about a $125 million investment. Chief executive officer Pradeep Paunrana declined to comment on Tuesday when Bloomberg called him, citing regulatory compliance.


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