National Company Law Tribunal (NCLT) on Friday suspended the eight directors on the board of troubled real estate company Unitech and allowed the government to appoint its nominee directors.
The rare move by the government to take over the management of a firm to protect investor interest comes nine years after a similar management takeover of Hyderabad-based infotech major Satyam.
National Company Law Tribunal (NCLT) on Friday suspended the eight directors on the board of troubled real estate company Unitech and allowed the government to appoint its nominee directors.
The rare move by the government to take over the management of a firm to protect investor interest comes nine years after a similar management takeover of Hyderabad-based infotech major Satyam.
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