Wednesday 27 May 2015

CLB grants 30 days’ time to ‘Unitech Ltd.’ for repayment of deposits; appoints committee to monitor

Companies Act: Where Unitech Ltd. failed to repay matured FDs despite making profits yet it wanted to reschedule payment thereof, it was to be directed to repay the deposits as rescheduling of deposits was not allowed under new Companies Act, 2013 and, accordingly, directed the 'Unitech Ltd' to repay deposits within 30 days.

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