Supreme Court
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Recently the Supreme Court appointed Grant Thornton as the forensic auditor of Unitech. The auditor will go through the financial actions of the Unitech’s companies and will also check details of 74 projects that the company is working on from 1st January 2006.

The apex court gave Grant Thornton a week’s time to draft terms of audit incorporating the issues attached with the order. Also, the Unitech group has to report requests and other details before the court by 13th December.

The Supreme Court also directed the Unitech group to disburse an amount of Rs. 174 crore lying before the court’s registry to the concerned people. This money will disburse in the ratio of 50:40:10.

The home buyers registered on the portal formed by Amicus Curiae Pawan Shree Agrawal as of 30th November 2018 will receive 50 percent of the money according to the order of consumer court. Also, the court asked Agrawal to provide them with the list of the buyers accordingly.

Nearly 40 percent of the money is directed towards the construction of the projects and the remaining 10 percent of the money will be given to the fixed depositors of Unitech. The hearing of the bail plea made by Unitech directors will be heard next on December 14.

Similar to this, Supreme Court formed a team of forensic auditors to conduct an audit of all 46 companies of the Amrapali Group and report its finding about benaami home buyers to the bench of Justices Arun Mishra and U U Lalit.

Shilpa Sardare Jain
Shilpa Sardare Jain is a journalist and works as a content writer with us. Her journalistic background helps her cater the viewers with accurate news about everything around. She is experienced at writing articles, blogs, features and news related to different genres. She started her career with News24 News channel and then worked with a leading digital media channel One India News and few others. Shilpa Sardare Jain is a joyful person who loves to explore new places and food when not working. Also, she has the zest for reading autobiographies of politicians who took the world by storm.