Authority: Supreme Court of India

Order Date: 17-08-2026

Case Overview

  • Parties: Appellant – Bhupinder Singh; Respondents – Unitech Ltd. & others (including Entertainment City Ltd, NARCL, Ministry of Corporate Affairs, ICICI Bank, Punjab National Bank).
  • Nature of Proceeding: Civil Appeal No.10856/2016 with several interlocutory applications (I.A.) listed for hearing on 17‑08‑2026.
  • Background: The appeal involves disputes over loan assignments, director appointments, possession of property, and enforcement of security interests relating to Unitech Ltd and its subsidiaries.

Interlocutory Applications and Orders

I.A. Nos.104665 & 104666 of 2026

  • IA 104665: Application for intervention allowed.
  • IA 104666: Filed by National Asset Reconstruction Company Limited (NARCL). The Court noted that under an Assignment Agreement dated 28‑11‑2025, Punjab National Bank assigned its loan facilities, security interest and credit comforts to NARCL, making NARCL the sole secured financial creditor of Entertainment City Limited (ELC), in which Unitech holds 41.05% shareholding.
  • Directions: Issue notice (returnable on 16‑09‑2026); Ms. Anubha Agrawal to waive service of notice for the Board; Dasti service permitted; Board to respond by affidavit.

I.A. Nos.149750 & 149751 of 2026

  • IA 149750: Application for impleadment allowed.
  • IA 149751: Reliefs sought:

a) Order Entertainment City Ltd to remove its articles/agents from Unit No.303, 2nd Floor, Garden Galleria, Plot No. A‑2, Sector 38‑A, Noida and hand over peaceful possession.

b) Direct Entertainment City Ltd to pay the Assured Monthly Return to the applicant from 07‑07‑2014 to date with penal interest per MOU dated 08‑10‑2013.

c) Any further orders as deemed fit.

  • Directions: Issue notice (returnable on 30‑09‑2026); Ms. Anubha Agrawal to waive service; notice also to Entertainment City Ltd; Dasti service permitted.

I.A. No.217218 of 2026

  • Applicant: Ministry of Corporate Affairs.
  • Reliefs:

I. Approve appointment of Shri Giridhar Aramane, IAS (Retd, 1988 batch), as Chairman & Managing Director of Unitech Ltd, replacing Mr. Yudhvir Singh Malik whose tenure ended on 20‑07‑2026.

II. Extend the director‑immunity order dated 20‑01‑2020 to Shri Giridhar Aramane in his new role.

  • Order: Tenure of Mr. Yudhvir Singh Malik confirmed ended on 20‑07‑2026; Shri Giridhar Aramane appointed and immunity extended. IA disposed.

I.A. Nos.247792 & 247793 of 2026 (SLP(Crl.) No.5978‑5979/2017)

  • IA 247792: Application for impleadment allowed; list of interlocutory applications to be filed on 30‑09‑2026.
  • IA 247793: Pending reply from respondents; no substantive order recorded.

I.A. No.123054 of 2026

  • Reliefs Sought:

a) Direct Respondent No.1 to recall and set aside cancellation of e‑auction for Leasehold Residential Plot B‑239, Willows, Block‑B, UGCC, Sector 96‑97‑98, Noida.

b) Declare applicant as successful bidder and issue allotment letter.

c) Any further orders in interest of justice.

  • Directions: Issue notice (returnable on 30‑09‑2026); Ms. Anubha Agrawal to waive service; Board to furnish copy and respond at next hearing.

I.A. Nos.212060 & 206064 of 2026

  • IA 206064: Application for impleadment allowed.
  • IA 212060: Reliefs sought:

I. Stay on sale/auction/transfer of ten villas (A‑8 to A‑12, A‑156 to A‑159, A‑94) described in Security Agreement dated 07‑04‑2016.

II. Stay all proceedings by ICICI Bank Ltd against the applicant company and its promoters/guarantors concerning a Rs. 65 Crore overdraft facility (Escrow Agreement dated 06‑06‑2016), including DR‑Tribunal, SARFAESI actions, FIR 172/2021, and related CBI cases.

III. Direct Respondent No.1 to disclose particulars of two villas already sold/alienated and account for proceeds.

IV. Permit applicant to seek recognition/enforcement of secured interest in the villas and sub‑rogation rights.

V. Any further orders as deemed fit.

  • Observations: Applicant is a contractor; Court suggested the matter could be referred to Justice Sapre Committee; prior notice required if villas are to be auctioned.

I.A. Nos.81979 & 81980 of 2026

  • Order: Both applications dismissed as not pressed, with liberty to file a substantive petition.
  • Additional Direction: Court requested Ms. Anubha Agrawal to provide details on Unitech promoters – number charge‑sheeted, names, positions, pending courts, and releases – to be listed on 16‑09‑2026 alongside IA 104665 & 104666.

Miscellaneous Listings

  • I.A. Nos.302408/2024, 302409/2024, 116628/2026, 159201/2026, 148895/2026, 59881/2026, 59874/2026 (in Civil Appeal No.10856/2016) and 240232/2026 (in SLP(Crl.) Nos.5978‑5979/2017) – listed for hearing on 30‑09‑2026.

Final Outcome

  • The Court allowed several intervention and impleadment applications, granted the Ministry of Corporate Affairs’ appointment of a new Chairman & MD for Unitech Ltd, issued notices and stay orders concerning property possession, lease‑hold auction cancellations, and security‑interest enforcement, and dismissed two applications as not pressed. All pending notices are returnable by the specified September 2026 dates.

Topics: Court Orders, Real Estate Litigation, Corporate Governance