Unitech : SC bans NCLT order
Relief to Unitech, SC bans NCLT order, company was to come under government control Unitech is relieved by the Supreme Court. The Supreme Court has stayed the order of the National Company Law Tribunal (NCLT) in which the government was empowered to appoint its directors to the board of Unitech. Unitech is relieved by the Supreme Court. The Supreme Court has stayed the order of the National Company Law Tribunal (NCLT) in which the government was empowered to appoint its directors to the board of Unitech. The NCLT had empowered the government to appoint its own directors on the board of Unitech. Today, after the Supreme Court imposed a stay on the instructions of NCLT, Unitech has got immediate relief. SC bans NCLT order, Unitech shares sinks 19% Unitech stock dips 19% The Supreme Court order showed a significant impact on Unitech's stock. Following this news, Unitech Ltd. stocks declined by up to 19 percent. However, there was some recovery later and at 2 pm the stock was trading