NEW DELHI: Realty firm Unitech Ltd on Tuesday said its board has approved extension of tenure of its CEO, Ashok Kumar Yadav, by one year.
In a regulatory filing, Gurugram-based Unitech said the board of directors in its meeting held last month, approved the extension of his tenure by one year with effect from February 11, 2026 or until further order, whichever is earlier.
In 2020, the company’s board was superseded by the central government on the Supreme Court‘s direction.
Ministry of Corporate Affairs proposed the constitution of a new board, which was approved by the Supreme Court on January 20, 2020.
Unitech Ltd is facing a huge cash crunch, resulting in significant delays in execution of its housing projects, primarily in Delhi-NCR.
