MD Yudhvir Singh Malik faces mounting criticism as losses grow, assets undervalued, and projects stall

New Delhi | June 6, 2025 —
Real estate giant Unitech Ltd., once a cornerstone of India’s property sector, is now mired in controversy and financial decline under the court-appointed management that took charge following a 2020 Supreme Court intervention. Despite being handed a rich land bank and a clear revival mandate, the current leadership led by Managing Director Yudhvir Singh Malik is under fire for mismanagement, opacity, and failure to deliver relief to long-suffering homebuyers.

Stakeholders allege that the Resolution Plan (RP), recently made public, severely undervalues Unitech’s land assets—particularly in Noida, Gurgaon, and Chennai. Land parcels in Noida alone have been pegged at just ₹5,641 crore, far below independent estimates of ₹40,000 crore. Critics say such undervaluation not only distorts the company’s recovery potential but also denies justice to homebuyers and creditors.

Mounting Losses and Delayed Deliveries

Under Malik’s stewardship, Unitech has accumulated losses exceeding ₹5,000 crore. Dues to Noida authorities have ballooned from ₹2,700 crore to over ₹11,000 crore in five years. Observers claim that the company’s deteriorating financial condition is less a result of insolvency and more due to policy paralysis, bureaucratic inertia, and the absence of strategic decision-making.

Legal disputes have also surged, further stalling project completion. Stakeholders accuse the management of avoiding dispute resolution and instead taking a non-transparent, overly administrative approach—leaving buyers in limbo and investors anxious.

Questions Over Governance and Intent

The RP has drawn constitutional scrutiny as well, with legal experts warning that certain clauses appear crafted to shield the management from accountability while limiting stakeholders’ legal options. “This is not what the Supreme Court envisioned when it stepped in,” one stakeholder remarked.

Adding to the controversy is Mr. Malik’s bureaucratic background, including his role in the Nestlé India case and alleged administrative overreach in past postings. Critics argue that such a profile is ill-suited to lead a complex real estate turnaround.

Public Frustration Peaks

For thousands of homebuyers, the consequences are personal and painful. Many continue to pay EMIs for homes they have yet to receive, while the management resides in government accommodation and remains insulated under legal moratoriums. The stark disparity has fueled anger and protests, with renewed calls for immediate corrective action.

A Demand for Professional Turnaround Experts

There is growing consensus among stakeholders that Unitech needs a professional, industry-savvy leadership team—one capable of executing projects, valuing assets transparently, and rebuilding public trust.

“The Supreme Court’s intervention was a ray of hope,” said a representative of the homebuyers. “But somewhere along the way, the mission lost direction. We need a mid-course correction before it’s too late.”

Stakeholders are now urging both the Supreme Court and the Union Government to re-evaluate the current Resolution Plan, remove the present leadership, and bring in experienced professionals who can revive Unitech and fulfill the long-standing promise made to homebuyers.