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SC orders forensic audit of companies.

New Delhi: The apex court ordered forensic audit of all Unitech group companies similar to that of Amrapali Group.

It has ordered for the appointment of an auditor who will do audit of all the 74 companies of Unitech group and its subsidiary companies since 2006. The Court has asked the forensic auditor to be present before it next Friday. Sanjay Chandra, the MD of the firm and his brother Ajay Chandra are in jail. Chandra is seeking interim bail from the apex court after the Delhi High Court on August 11 last year had rejected the plea in a criminal case lodged in 2015 by 158 home buyers of Unitech projects -- 'Wild Flower Country' and 'Anthea Project' -- situated at Gurgaon in Haryana.

Chandra's lawyer had pressed for his bail today, however the court said that his bail can not be granted till the completion of the company's forensic audit. In August, SC directed a panel headed by former Delhi High Court judge Justice S N Dhingra to go ahead with the sale of unencumbered assets of the directors of real estate major Unitech Ltd to refund money to hassled home buyers.

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Publication:Daily the Pak Banker (Lahore, Pakistan)
Geographic Code:9INDI
Date:Dec 9, 2018
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