SC freezes bank accounts of real estate firm, directors; issues warrants against its officials
In a stinging rebuke of the “brazen disregard” shown by Haryana-based Parsvnath Developers towards homebuyer rights, the Supreme Court on Monday froze the bank accounts of the real estate firm and its directors, and issued bailable warrants against the company’s leadership after taking note of a 20-year struggle by senior citizens to secure possession of their homes. The Supreme Court has frozen the bank accounts of a real estate firm, directors; issued warrants against its officials (PTI) A bench headed by Chief Justice of India Surya Kant also came down heavily on Haryana authorities for their failure to enforce orders passed by the Haryana Real Estate Regulatory Authority (HRERA) against the real estate firm, saying that the case exposes serious concerns about the effectiveness of the Real Estate (Regulation and Development) Act, 2016, in securing relief for homebuyers. The bench, also comprising Justices Joymalya Bagchi and V Mohana, expressed grave concern over the “slumber” of regulatory authorities and suggested a “collusion” between the Haryana state machinery and the builder. To ensure that the builders do …



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