Unitech fined for project delays
The Supreme Court has directed Unitech to pay a fine for delays to its projects that caused hardships to home buyers.
The SC asked Unitech to pay 14% per year of the principal deposited by 39 buyers (Rs.16.5 crore), retrospective from 2010. They also have to return the principal amount.
The court said 90% of the amount should be paid back in 8 weeks.