New Delhi, February 17 Real estate firm Unitech Ltd announced on Tuesday that its board has approved an extension of the tenure of its CEO, Ashok Kumar Yadav, by one year.
In a regulatory filing, Gurugram-based Unitech stated that the board of directors, in a meeting held last month, approved the extension of his tenure by one year, effective from February 11, 2026, or until further order, whichever comes first.
In 2020, the company's board was superseded by the central government following a directive from the Supreme Court.
The Ministry of Corporate Affairs proposed the formation of a new board, which was approved by the Supreme Court on January 20, 2020.
Unitech Ltd is facing a significant cash crunch, resulting in delays in the execution of its housing projects, primarily in the Delhi-NCR region.