Unitech asks homebuyers to be ready to pay 1st installment as tenders will be issued after SC’s approval

 - Sakshi Post

New Delhi, Aug 26 (IANS) The new management of the Unitech builders on Saturday asked the homebuyers of its projects to be ready for payment of the first installment of their outstanding dues as tenders for 49 projects would be issued after approval from the Supreme Court (SC).

In a public notice issued on August 23, the Unitech group said that the Letters of Intent (LoIs) for award of contracts in these 49 tenders would be issued to the contractors after approval of the Supreme Court is received and works would commence at the respective projects thereafter.

It said, "Assuming that the management receives the approval of the Supreme Court for award of contracts in respect of these 49 tenders by or before end of September 2023, the homebuyers of these projects are advised to be ready for payment of the first Installment of their outstanding dues with effect from November 1, 2023."

It further said that the work on preparation of tender documents proposed to be floated as part of Lot-3 is already in hand and expected to be completed, along with review by the Engineers India Ltd (EIL), by middle of September, 2023.

The Unitech group said that its new management has been receiving a large number of queries over emails and telephones from the anxious home-buyers to know about the status of Invitation of tenders and award of contracts in respect of their projects.

The Unitech group also said that in continuation of the tendering process, second lot of 31 tenders were prepared by the PMCs and duly reviewed by the EIL.

"Thus a total of 51 tenders (20 retenders of Lot-1 and 31 tenders of Lot-2) were approved by BoD and Justice (Retd.) A. M. Sapre in the month of April 2023 for uploading on Unitech’s etendering web portal. Accordingly, these tenders were uploaded on the portal on May 8 and 9 of this year.

It further said that the extended last date for submission of bids in respect of these 51 tenders was June 22, 2023. The technical bids were opened on June 23 when it was discovered that no bids had been received in respect of 09 tenders. "After completion of the process of evaluation of Technical and Financial bids, the management finalised the bids received qua 34 tenders.

"This has been approved by the Board of Directors followed by Justice (Retd.) A.M. Sapre on August 18. The recommendations of the Board and Justice Sapre have been made available to the Advocate on Record for placing the same before the Supreme Court on the next date of hearing of the Unitech matter," the company added.

Disclaimer: This story has not been edited by the Sakshi Post team and is auto-generated from syndicated feed.

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