Indian court allows govt to replace Unitech directors - judge

Unitech

08/12/2017 10:33

NEW DELHI, Dec 8 (Reuters) - An Indian court on Friday 
allowed the government to appoint directors on the board of 
debt-laden realty firm Unitech Ltd  UNTE.NS . in a rare 
intervention.  
    The government had approached the National Company Law 
Tribunal to appoint directors on the board of Unitech citing 
mismanagement and siphoning of funds by the management. 
 
 (Reporting by Manoj Kumar; Writing by Nidhi Verma) 
 ((nidhi.verma@thomsonreuters.com; +91 11 49548031; Reuters 
Messaging: nidhi.verma.thomsonreuters.com@reuters.net)) 
 
Keywords: INDIA UNITECH/