Unitech's customers worried on vacant CMD post, lack of funds to complete stalled realty projects
Customers of Unitech Ltd expressed distress over the vacant Chairman and Managing Director (CMD) position and a cash crunch affecting stalled projects. Five associations representing around 15,000 buyers urged for a new CMD appointment and proposed auctioning unsold assets to fund construction. The urgency is heightened as buyers have faced delays of over 15 years, with some properties promised in 2013-2014 still incomplete.