New Delhi: The Supreme Court has given a real blow to the real estate company Unitech after Amrapali and JP Builder. Keeping in mind the interests of about 30 thousand home buyers, the apex court has asked the central government to take over the management of the company. The court has also directed the government to investigate the matter from various agencies including the Enforcement Directorate (ED) after Unitech and its directors revealed that thousands of crores of flat buyers had been diverted by the forensic report.

The court has also flatly refused to grant bail to Unitech directors Chandra brothers, the apex court has asked the government to appoint the current directors of Unitech as independent directors. The Supreme Court has asked Attorney General KK Venugopal to take action in this regard to the concerned authority of the Central Government.

The court found in the forensic auditor's report that the bulk of the money taken from home buyers for Unitech's 74 projects was diverted elsewhere for some other purpose. 29,800 home buyers had collected about Rs 14,270 crore. Also, in the name of projects, only about 40 percent of the loan from the bank was used for the projects. 60 percent of the amount has been diverted.

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