Supreme Court Appoints Ex-Judge Justice AM Sapre To Assist Unitech Board Of Managment In Sale Of Assets

The Supreme Court on Wednesday appointed former Supreme Court Judge, Justice AM Sapre to assist the Board of Management of Unitech for the purpose of sale/monetization of the land assets. The bench of Justices DY Chandrachud and MR Shah appointed the former Supreme Court judge for ensuring that the procedure which has been proposed comports with the need to maintain transparency and is in the interest of realizing the best possible price of the assets which would fund the construction of units for homebuyers. The decision for such appointment was taken by the Top Court while considering the Action Taken Report III wherein the Board of Management had proposed to take sale/monetization of the land assets falling in para 4.2 of the Action Taken Report. Chapter 3 of the report dealt with, "Setting Up Of Policy/SOP For The Sale of Land Assets" which have been categorized into: Project land assets Non project land assets On the bench's proposal to appoint a former Supreme Court judge, ASG Venkataraman had submitted that the induction of a former judge of this court into process would not only lend greater transparency but would also protect the board of management which consists of directors which have been appointed form the Union Government from diverse areas.