Have no money to refund home buyers: Unitech to SC


Real estate giant Unitech Ltd told the Supreme Court on Friday that it was not in a position to refund money to home buyers who had invested in its projects in Noida and Gurgaon but not got possession of their flats because of delays in construction.Appearing before a bench of Justices Dipak Misra and U U Lalit, Unitech’s lawyer Abhishek Manu Singhvi expressed inability to refund the money to investors saying the company didn’t have the money to pay them back.We don’t have money. If we had money, we would have constructed the flats and given them to the buyers,” he said.

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