Unitech names Deloitte to map out resolution framework
The newly reconstituted board of debt-laden property developer Unitech has appointed Deloitte to prepare a resolution framework for the company. The Supreme Court had approved the nomination of seven directors to the board of Unitech, now being run by the government. The board was constituted on January 21. The decision to appoint Deloitte was taken after a board meeting, a person aware of the matter told media. The board is expected to submit the resolution plan by March 20. "They will give us the framework based in which we will finalise and approve the resolution plan. The objective is to complete stuck projects," said the person. Senior executives of Unitech had made a formal presentation to the board to help it understand the company's projects and other details. Deloitte did not respond to queries.
Tags : News/Views