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Unitech to keep escrow accounts open

Funds to be used for incomplete projects though SC stayed meetings with homebuyers

Unitech to keep escrow accounts open

Realty-major Unitech will continue to operate the escrow accounts opened in September as part of the Delhi High Court monitored compromise scheme with homebuyers. Though the Supreme Court on Friday stayed the meetings with homebuyers that were to commence on Sunday, the funds in the escrow account would continue to be utilized. “The Company shall continue to operate the escrow accounts opened pursuant to the directions of the Delhi High Court order dated 02.09.2016 and all the inflow and outflow of funds of the company in respect of the pending projects shall be strictly ...