Supreme Court lifts stay on pending cases against Unitech

NEW DELHI: The Supreme Court has lifted stay order imposed by the Delhi High Court on proceedings against realty firm Unitech and its directors before different courts and forums.

“As an interim measure, it is directed that the proceedings pending before all the forums shall continue,” a Supreme Court bench of Justices Dipak Misra and Amitava Roy said in an interim order issued on Thursday. The next date of hearing is set for January 11, 2017.

The Delhi HC had on September 2 stayed all proceedings pending against Unitech, barring all SC orders, or which may be filed against the company or its directors before different forums. It had also agreed upon a scheme of compromise under Section 391of Companies Act as submitted by a group of homebuyers and asked Unitech to hold meetings with homebuyers.

Lawyer ML Lahoty, who represented 111 buyers of Gurgaon's Unitech Residences project in the court, argued, “Total immunity was given to Unitech by the company judge from past, present and future proceedings. This is a classic case of abuse of judicial powers.”