Parsvnath gets Supreme Court order to deposit Rs 12 cr in 4 weeks in Ghaziabad project
The money has to be deposited with the apex court over the next one month
Sending a strong message to property developers for taking buyers for a ride, the Supreme Court on Thursday pulled up real estate developer Parsvnath Buildwell and asked the realty firm to deposit Rs 12 crore.
The money has to be deposited with the apex court over the next one month.
The Supreme Court also rejected the plea of National Consumer Disputes Redressal Commission asking for a stay. The court instead directed the company to refund money to 70 buyers whose flats were not delivered at its "Exotica" project in Ghaziabad.
The court has also asked buyers if they would accept rent and interest for having paid the builder money for booking their flats.
The consumer court last month had asked Parsvnath to refund the money with interest to buyers, but the company said it won't be able to pay the amount.
The company's Exotica project faced trouble after the Ghaziabad Development Authority cancelled the company's revised construction plan.
This comes after the bench took serious note of the fact that the son took his mother who is also virtually immobile to a registrar's office in Motihari, Bihar, to get her thumb impression to allegedly sell off her properties worth Rs 2 crore
Her comment came a day after Supreme Court in a landmark order put on hold the controversial sedition law till the Centre completes a promised review of the colonial relic and also asked the central and state governments not to register any fresh case invoking the act
The colonial-era sedition law has been invoked against the likes of author Arundhati Roy, student leaders Kanhaiya Kumar, Umar Khalid, and cartoonist Aseem Trivedi among others