NCLT allows govt to appoint 10 directors on Unitech board

Published On: 08, Dec 2017 | Source:

The National Company Law Tribunal (NCLT) on Friday allowed the government to appoint 10 directors on the board of debt-ridden Ltd.  

The two-member bench headed by Chairman Justice M M Kumar has directed the government to submit the 10 names by December 20, the next date of hearing.

The government had approached the to take over the management of alleging mismanagement and siphoning of funds by the management.

has also issued a notice to Ltd directing it to file the reply.

"They have permitted the central government to appoint 10 nominee directors to run the day to day business and list of that would be given by 20th December," said Additional Solicitor General Sanjay Jain who had appeared on behalf of the government in

He further said: "In the meanwhile, the suspended directors of the company shall not sell, mortgage or create charge either their properties or company's properties."