SC asks Telangana Infra Corp to refund Rs165 cr with interest to Unitech
IANS
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The Supreme Court on Wednesday directed the Telangana State Industrial Infrastructure Corporation (TSIIC) to refund Rs 165 crore with interest to cash-strapped real estate firm Unitech, in connection with development of an integrated township project in Ranga Reddy district.
A bench comprising Justices D.Y. Chandrachud and M.R. Shah said: Unitech shall be entitled to a refund of an amount of Rs 165 crore together with interest at the SBI-PLR commencing from the respective dates of payment, computed in accordance with the provisions of the Development Agreement (except for compounding).
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