Unitech MD to get bail only after firm deposits Rs.750 crore: SC

The Supreme Court has said, it will consider granting bail to Unitech Limited Managing Director Sanjay Chandra after the real estate firm deposits Rs.750 crore by December end. 

A bench, headed by Chief Justice Dipak Misra said, the money, to be deposited in the apex court registry, will be used in facilitating refund to the home buyers who want their money back.

Advocate Pawan Shree Aggarwal,



assisting the court as an amicus curiae in the matter, told the bench that the real estate firm needed around Rs. 2,000 crore to refund money to home buyers as well as completing the ongoing projects.

Chandra's counsel told the court that they have given a plan for refund of money and completion of projects and they needed some time to do it.The court fixed the matter for hearing in the second week of January.