From real estate kings to 2G scam, the rise and fall of Unitech's Chandras

As Unitech makes efforts to cut its debt, it may be too late to regain its position in pecking order

After Unitech Managing Director Sanjay Chandra stepped out of Delhi’s Tihar Jail in 2012, where he was interned the year before for his alleged involvement in the 2G scam, many were ready to give him a second chance. In spite of its disastrous telecom foray, and the fact that the real estate bubble had burst, Unitech had a large land bank, which an astute man like Chandra could leverage to good effect.

That was not to be. Unitech’s real estate business never really revived. On March 31, Chandra, along with older brother Ajay, was arrested by the Economic Offices Wing of