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HC orders Telangana govt to pay Rs 660 cr to Unitech in four weeks
The state apex court on Thursday passed orders to the Telangana government and the state infrastructure corporation TSIIC to pay Rs 660 crore to Unitech including the interest in four weeks
The state apex court on Thursday passed orders to the Telangana government and the state infrastructure corporation (TSIIC) to pay Rs 660 crore to Unitech including the interest in four weeks.
Justice MS Ramachandra Rao also told the government to recover the amount from AP government and its industrial infrastructure corporation (APIIC) under section 53 or 47 of AP Reorganisation Act, 2014.
Unitech paid Rs 165 crore to erstwhile Andhra Pradesh in 2007 to develop an integrated township project and aerospace park in 350 acres at Saroornagar.
However, the project was stopped after a dispute over the land arose between the government and private parties. The government also lost the case in the court but failed to refund the money back to Unitech.
And as the state was bifurcated in 2014, the issue stood still by then.