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Home News Unitech raised Rs 600 crore in FDs without permission

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Unitech  raised Rs 600 crore in FDs without permission

Unitech raised Rs 600 crore in FDs without permission

Friday, April 14, 2017, 11:56 AM

Real estate company Unitech had floated a fixed deposit scheme in 2012 and raised Rs 600 crore from some 55,000 people by promising 12% interest, even though it did not have either a licence or permission from the RBI to collect money in the form of an FD, according to a submission in court by the Gurgaon Police's Economic Offences Wing.
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