Indian Supreme Court Freezes Parsvnath Directors' Accounts, Issues Warrants

SC freezes accounts of Parsvnath directors, issues warrants

The Supreme Court on Monday ordered the freezing of bank accounts of the managing directors, directors and all senior officials of Parsvnath Developers Ltd and Parsvnath Hessa Developers Pvt Ltd, restrained the companies from creating any third-party rights in the project, and issued bailable warrants against their directors, expressing strong displeasure over the builders’ continued failure to comply with Haryana RERA orders directing delivery of flats to two homebuyers