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IN RE : UNITECH LTD.

2016 (7) TMI 765 - COMPANY LAW BOARD NEW DELHI

Default in making repayment to the depositors as per undertaking given by the Managing Director of the company - Held that:- When the petitioner company could not repay ₹ 30 crores of money in the time given by this Bench as asked by the compan .....

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t be in a position to repay the depositors even it further time is extended; therefore this Bench, for having the company defaulted complying with the order dated 11-3-2016, dismissed the petition leaving it open to the depositors to pursue their rem .....

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Petitioner : Mr. Saurabh Kalia, Mr. Gaurav Jain, Advocates For The Depositors : Mr. Harshbir Singh Kohli, Advocate This Bench passed an order against the petitioner company on 11-3-2016 tor repayment of ₹ 30 crores on or before 30-6-2016 to pa .....

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owing six months starting from 1-2-2016 till 30-9-2016, to the depositors who have invested up to ₹ 25,000, ₹ 50,000 and ₹ 1,00,000 and Whose deposits have matured up to 31-3-2016 as per the original date of maturity. When this Benc .....

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's affidavit, this Bench on 11-3-2016 ordered accordingly, but till date, the petitioner company has not paid any of the instalments as directed by this Bench. 3. In the same order dated 11-3-216, this Bench ordered. "In case any default in .....

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he company would repay money to the depositors at least as per the undertakings given by the company, but till date, no undertaking has been complied with. In the past, this Bench even appointed a sale Committee on 15-7-2015 to generate funds by sell .....

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