The record
Written from the 1 report below. Nothing here is unsourced.
- Parsvnath Hessa Developers has told the Supreme Court it deposited nearly ₹2.9 crore with the court registry as delayed-possession compensation for two Gurugram homebuyers who waited almost two decades for their flat in Parsvnath Exotica.
- The company filed a compliance affidavit saying it has met the July 20 order to pay the recoverable amount with 12% annual interest, and has identified a flat that can be handed over to the petitioners by October.
- The deposit comes after the court froze the bank accounts of the companies and their directors and warned that top executives could face imprisonment, similar to the action taken against Unitech's former promoters.
- The matter will be heard on Monday before a bench headed by Chief Justice Surya Kant, who will decide whether the curbs on the company should be lifted.
What to watch next
- The Supreme Court's decision on Monday on whether the deposit counts as full compliance and whether the bank account freezes and asset restraints will be lifted.
- Whether the company actually hands over the identified flat in Parsvnath Exotica to the petitioners by October.
- Whether the court chooses to dispose of the writ petition or continue coercive measures against the company's management.
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Named India · Gurugram · Lokaish Tikku · Parsvnath Exotica · Rita Tikku · Unitech · Haryana Real Estate Regulatory Authority · Joymalya Bagchi · Parsvnath Developers Ltd · Parsvnath Hessa Developers Pvt Ltd · Priya Hingorani · Sanjeev Kumar Jain · Supreme Court
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