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Our objective is to give houses to 22,000 homebuyers of ailing Unitech: Supreme Court
On April 29, 2026, the Supreme Court reiterated its aim to ensure delivery of homes to about 22,000 Unitech buyers and asked the Centre-appointed board, ARCs, and banks to propose an amicable resolution, with a two-page note due in a week. The court referenced prior interventions and ongoing efforts to revive stalled projects and recover funds.
Why It Matters
The outcome could determine the fate of thousands of homebuyers awaiting flats, influence debt resolution and governance at Unitech, and shape regulation of stalled real estate projects in India.
Timeline
6 Events
Supreme Court: Deliver homes to 22,000 homebuyers; amicable resolution (2026)
April 29, 2026
The bench reiterated its objective to give homes to about 22,000 dwelling units to homebuyers, and directed the Centre-appointed board, seven banks and financial institutions, and three asset reconstruction companies (ARCs) to suggest measures for an amicable resolution of the long-pending dispute. It asked for a two-page note within a week. The court noted total outstanding against Unitech at ₹14,129.85 crore and said monies deposited by homebuyers were allegedly parked in tax-haven countries, while warning state authorities against delaying projects and non-compliance with orders.
RERA registration exemption for Unitech projects (2025)
January 16, 2025
The Supreme Court granted exemption from registration under the Real Estate (Regulation and Development) Act (RERA) for Unitech housing projects located in seven states, to facilitate the release and advancement of loans to homebuyers.
Centre-appointed board allowed to seek police help against impediments (2024)
October 22, 2024
The top court permitted the Centre-appointed board of directors to seek police assistance to deal with impediments created by third parties on Unitech's properties.
SC allows MCA to take control and monetise assets (2020)
January 20, 2020
The Supreme Court allowed the Ministry of Corporate Affairs to take total management control of Unitech, enabling the board to raise funds due from homebuyers, sell the unsold and unclaimed inventory, and monetise unencumbered assets to complete housing units.
Forensic audit ordered by the Supreme Court (2018)
2018
The Supreme Court directed a forensic audit of Unitech and its sister concerns by Grant Thornton India. The report found that Unitech, under its erstwhile promoters Sanjay Chandra and Ajay Chandra, had received around ₹14,270 crore from 29,800 homebuyers (mostly between 2006 and 2014) and around ₹1,805 crore from six financial institutions for 74 projects. It also stated that around ₹5,063 crore of homebuyers' money and around ₹763 crore of funds from financial institutions were not utilised, with high-value investments made in tax-haven countries between 2007 and 2010.
Centre moves NCLT for suspension of Unitech directors (2017)
2017
In 2017, the Centre moved the National Company Law Tribunal seeking suspension of Unitech's current directors and taking control of the company's management, a proposal later withdrawn after a stay ordered by the Supreme Court.