Unitech shares continue to rise, surge over 8%
In four trading sessions, the stock has gained nearly 33%14-06-2016
14-06-2016
Court orders proceedings against Unitech and its top bosses
NEW DELHI: A court here has ordered initiation of proceedings against real estate major Unitech Ltd and its top bosses in a case of alleged cheating lodged by an investor for not giving him possession of a flat booked in 2006 in Greater Noida, adjacent to the national capital. Unitech Ltd, its Chairman Ramesh Chandra, Managing Directors Ajay Chandra and Sanjay Chandra and four other Directors have been named as accused in the complaint. Additional Sessions Judge (ASJ) Sandeep Yadav passed the order against them for the alleged offence of cheating under section 420 of IPC saying they had "guilty intention to cheat the petitioner from the beginning". The complaint was filed by Gurgaon resident Paramvir Singh Narang alleging that he had booked a flat in Unitech Cascades at Greater Noida in 2006 for which he had paid a total sale consideration of Rs 39.07 lakh. The flat was to be handed over by April 2008 but the company failed to abide by its agreement, following which he lodged a complaint. His plea was dismissed by a magisterial court after which he filed a revision petition before sessions court. "Since respondents after receiving total agreement payment of Rs 39.07 lakh neither offered possession of apartment nor refunded the amount with simple interest at 10 per cent per annum, it can be safely concluded that they were having guilty intention to cheat the petitioner from the very beginning of transaction," the ASJ said. "Even the legal notice issued by complainant to accused persons was not replied. Hence,...14-06-2016
Unitech Ltd reply to clarification sought by the exchange
The Exchange had sought clarification from Unitech Ltd with respect to news appearing in Free Press on May 23, 2016 titled "Unitech to pay over Rs 60L for failing to deliver apartment." Unitech Ltd response is enclosed.13-06-2016
Unitech surges 20% on proposed Greater Noida exit policy
Shares of Unitech surged 20 per cent in Monday's trade amid reports that the authorities in Greater Noida may soon implement an exit policy to allow builders to surrender surplus land.13-06-2016
Clarification sought from Unitech Ltd
The Exchange has sought clarification from Unitech Ltd with respect to news article appearing in The Financial Express on June 10, 2016 titled "Bailable warrant issued against Unitech director."The reply is awaited.10-06-2016
Unitech sales bookings rise 16% to Rs 963 crore in FY16
The sales bookings in value term increased on the back of higher average sales realisation, which went up to Rs 7,501 per sq ft during last fiscal as against Rs 6,369 per sq ft in 2014-15.09-06-2016
Unitech shares plunge as much as 5% as loss widens
Unitech's consolidated net loss widened to `539.47 crore in the fourth quarter ended March on account of lower income from operations31-05-2016
Outcome of Board Meeting
Unitech Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 30, 2016, inter alia, has not recommended any dividend for the financial year 2015-2016.Further, the Board of Directors of the Company has appointed Maj. Gen. Virender Kumar Bhutani (Retd.) as an Additional Non-Executive Independent Director on the Board of the Company with effect from May 30, 2016.30-05-2016
Announces Q4 & FY16 Results (Standalone & Consolidated) & Results Press Release for the period ended March 31, 2016
Unitech Ltd has announced the following results for the quarter & year ended March 31, 2016:The Audited Standalone results for the Quarter ended March 31, 2016The Company has posted a net loss of Rs. (2867.430) million for the quarter ended March 31, 2016 as compared to net loss of Rs. (223.198) million for the quarter ended March 31, 2015. Total Income has decreased from Rs. 4236.134 million for the quarter ended March 31, 2015 to...30-05-2016