Unitech Ltd on Wednesday said it has appointed Ashok Kumar Yadav as chief executive officer (CEO) of the company. Yadav, 65, is a retired IAS officer of Haryana Cadre.
In a regulatory filing, Unitech informed that the Board of Directors has redesignated/ appointed Ashok Kumar Yadav, Chief Operating Officer, as the Chief Executive Officer of the Unitech Group. The appointment has been made with immediate effect.
The tenure of Ashok Kumar Yadav has also been extended for a further period of two years, after the conclusion of his present term on February 11, 2022.
Last year, the Supreme Court allowed the Centre to take total management control of the embattled realty firm and appoint a new board of nominee directors.
The decision was aimed to bring respite to thousands of hassled homebuyers of Unitech. Retired Haryana cadre IAS officer Yudvir Singh Malik became the Chairman and Managing Director (CMD) of the new board.
Ajay Chandra and Sanjay Chandra, who were serving as managing directors of the company before the board was superseded by the government, are in jail after the company defaulted on giving possession of flats to its homebuyers on time.