Retired IAS officer Yudhvir Singh Malik, once appointed by the Supreme Court to protect home buyers in the Unitech case, is now facing serious allegations of harming their interests. Buyers and stakeholders accuse him of arbitrary decisions, wasteful expenditure, and undermining judicial efforts.
The Supreme Court appointed Malik as Chairman and Managing Director of Unitech Limited in January 2020. The move aimed to restore the rights of home buyers and ensure timely delivery of promised residential units. However, Malik’s actions since then have sparked outrage and legal concerns.
Home buyers left in the lurch
According to reports, Malik allegedly approved proposals contrary to the Supreme Court’s intent. One such decision removed provisions for any compensation, interest, or penalties for delays faced by home buyers. He also allegedly spent crores of rupees from company funds to live in a luxury Lutyens’ Delhi bungalow, raising questions about conflict of interest.
Audit records from FY 2019 show Unitech had 186 subsidiaries and over 90 projects, many still under construction. Despite this, Malik’s resolution plan valued prime Noida land at ₹5,641 crore, whereas market estimates place it near ₹40,000 crore. Buyers now allege that Malik’s leadership is devaluing company assets and crushing their hopes.
Former board members like Niranjan Hiranandani and Jeetu Virwani reportedly stepped down due to Malik’s alleged high-handedness. Under his watch, the number of disputes with government authorities like Noida Authority has grown significantly.
Past controversies haunt Malik
Malik has faced several controversies throughout his career. In 2014, a CAG audit highlighted a potential ₹438.91 crore loss to Haryana’s exchequer during his tenure at HSIIDC. Land was allegedly sold to DLF at rates below market value.
As CEO of FSSAI in 2015, Malik led a controversial nationwide ban on Maggi noodles, claiming excessive levels of lead and MSG. The Bombay High Court overturned the decision, branding it arbitrary and unjust. His tenure at FSSAI ended abruptly within a year.
While heading NHAI, Malik allegedly threatened the Uttarakhand government in 2017. After an FIR named NHAI officials in a compensation scam on NH-74, Malik reportedly warned that central road projects would be stopped if the FIR wasn’t withdrawn. The High Court later refused to quash the FIR filed against the officials.
In light of these repeated accusations, questions arise about Malik’s suitability for roles demanding transparency and trust. Critics now ask whether Yudhvir Singh Malik was appointed to serve home buyers—or suppress their rights.
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