NEW DELHI: The Supreme Court rejected a proposal by Parsvnath Developers detailing phased possession or refund with interest to homebuyers, saying it appeared to be another device to delay the matter. A Bench comprising CJI Surya Kant and Justice Joymalya Bagchi was hearing petitions against Parsvnath and subsidiaries over delayed Delhi-NCR projects.
The Bench said the builder’s affidavit did not satisfy allottees or homebuyers of the companies. It warned that unless a proposal addressing the claims of all allottees was submitted, it would be constrained to appoint a High-Powered Committee to take over responsibilities.
The CJI asked the company to file a fresh proposal in two weeks covering 2,000-plus allottees, with timelines for construction, delivery and refunds. It warned failure could lead to a panel headed by a retired SC judge taking over assets, completing projects, disbursing refunds and considering attachment of directors’ personal assets. Matter will be heard after two weeks.
Within two weeks
CJI directed the company to file a fresh proposal within two weeks covering 2,000-plus allottees, with timelines for construction, delivery and refunds.