Brief: Unitech Ltd says counsel's contention was that it is not feasible to refund money to customers

Unitech

16/08/2016 13:43

Aug 16 (Reuters) - Unitech Ltd  UNTE.NS : 
 * Co's counsel's statement before supreme court has been misquoted by media 
 * Due to falling real estate prices, some customers are seeking refund of money 
   with interest even if property is ready for possession 
 * Counsel's contention was money got from customers has been invested in land 
   cost, building structures; so not feasible to refund money 
 
 * Source text: http://bit.ly/2bkci54 
 
 * Further company coverage  UNTE.NS   
 
 ((Bangalore.newsroom@thomsonreuters.com))