Unitech Update- Satyam like takeover by centre finally in place?

January 20, 2020

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Strategic Alpha

Link to Unitech Blog:-

Unitech Ltd- CMP 1.3- Will it rise from the Ashes? https://strategicalpha.blog/2019/05/13/unitech-ltd-cmp-1-3-will-it-rise-from-the-ashes/

In a relief to Unitech home buyers, Govt has finally decided to take over Unitech.

https://timesofindia.indiatimes.com/business/india-business/in-relief-for-30000-homebuyers-centre-to-take-over-unitech/articleshow/73340868.cms

Since the time of Satyam computers, this is the first big major central government intervention in the rescue of public limited companies.

New Unitech Board chairman:-

Yudhvir Singh Malik, Secretary in the Ministry of Road Transport and Highways, belongs to the 1983 batch of Haryana cadre. He has held many important positions in the Centre and in the State over the past three decades.

It said the court while ensuring a period of calm should direct a moratorium for 12 months. For the proposed board, the government also suggested the name of retired Haryana cadre IAS officer Yudvir Singh Malik, as chairman and managing director of the board and names of members including A K Mittal, ex-CMD of National Buildings Construction Corporation (NBCC), Renu Sud Karnad, Chairman of HDFC Credila Finance Service Pvt Ltd, Jitu Virwani, CMD of Embassy Group, Niranjan Hiranandani, MD of Mumbai-based Hiranandani Group. It said the court may appoint a retired judge of the Supreme Court for supervising the resolution framework finalized by the proposed board of directors.

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The author of the blog Mr.Suyog Dhavan is a Full-time Investor / Value Trader and Value investing/Trading Mentor. His style of Investing is inspired by Mohnish Pabrai, Peter Lynch, and Porinju Veliath. He is the founder of Strategic Alpha Wealth, A Premier stock market mentorship firm with a mission to touch the lives of 1Lakh people through its mentorship program.

2 Comments

  1. Rangarajan Ramanujam

    HI Strategic Alpha,
    In my view it is a very risky candidate. Luck is over 80%.
    Regards
    Ranga

    • Strategic Alpha

      Risk component is decreasing day by day after clarity is emerging.
      This is not under my circle of Competence,but I am keeping this as a try luck stock.
      Assets more than the liabilities and now govt Intervention makes this story alive.

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