Not surprisingly, Unitech is down with news that the top honchos of the company had been sent to 14 days judicial custody by additional chief metropolitan magistrate, in relation to a case filed by Noida residents – chartered accountant Sanjay Kalra and his business partner Devesh Wadhwa. The bosses spent an hour in jail and were released on bail, vaild till 14^th January.

The complainants had filed a case against Unitech who had bought a plot at the company’s development Habitat Apartments in Greater Noida. They were not given the property due to delay in construction. A State Consumer Forum had ruled that the realty firm should pay Kalra and Wadhwa back along with 11% simple interest by October last year. When the company failed to follow the order, the complainants moved court against the top guys of Unitech.

The stock exchange has sought a clarification from the company on the same though there is no official word yet.

The stock price slipped down over 9% to Rs.6.04 while its 52-week low stands at Rs.5.40.