'You cheated home-buyers': SC mulls auctioning Unitech's unencumbered assets

4,688 homebuyers, who had booked units in different projects but never got the flats, have demanded Rs. 1,865cr from Unitech.

In October, it offered to monetize its unencumbered assets, those free of claims by creditors, to refund buyers.

In January, it said it had struck a Rs. 400cr-deal for sale of land. The money will refund buyers and finance other projects, it said.

At the last hearing, Unitech had said JM Financial will finance some of its projects. Accordingly, the court had asked its representatives to be present today.

But the SC slammed it, saying: "We're given the impression that you will pay money to court so that home-buyers can be refunded. But now're are saying you have taken over Unitech's loans."

It was fined Rs. 25L.

Last year, the SC had said Unitech MD Chandra, who's currently in prison, will be given bail only after the company deposited money with its registry.

It had directed prison authorities to allow Chandra's meeting with his company's representatives to work out the details.

But today, CJI Dipak Misra accused United of "cheat(ing) and deceiv(ing) home buyers."