New Delhi, Oct 27 (PTI) Realty firm Unitech Ltd on Wednesday said it has appointed Ashok Kumar Yadav as chief executive officer (CEO) of the company.

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Yadav, 65, is a retired IAS officer of Haryana Cadre.

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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Ajay Chandra and Sanjay Chandra, who were serving as managing directors of the company before the board was superseded by the government, are in jail after the company defaulted on giving possession of flats to its homebuyers on time.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)