New Delhi, Jul 13 The Supreme Court on Monday froze the bank accounts of Parsvnath Developers 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.
A bench comprising Chief Justice of India Surya Kant and 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.
The case pertained to a petition filed by one Rita Tikku, a cancer survivor, and Lokaish Tikku, who invested their life savings in the "Parsvnath Exotica" project in Sector 53, Gurugram.
The petitioners were allotted residential units in 2006, with a Flat Buyer Agreement signed in early 2007.
Despite paying the full sale consideration of approximately Rs 1.78 crore, the possession, originally due in 2013, never materialised. Two decades later, the project remains incomplete.
The petitioners had previously secured favourable orders from the Haryana Real Estate Regulatory Authority (HRERA) in 2021, which ordered compensation.
However, the builder neither challenged the orders nor complied with them.
"Execution proceedings have become an exercise in futility," the CJI said, adding that even when HRERA issued arrest warrants, they were never executed.
The court was informed that in one instance, a bailiff was physically prevented from entering the builder's premises while the local police failed to provide effective assistance.
"We are satisfied that collectors and local police have either colluded with builders or failed to discharge their responsibility," the CJI said.
To ensure the builders do not evade justice further, the bench ordered freezing of bank accounts with immediate effect of Parsvnath Hessa Developers Pvt Ltd, Parsvnath Developers Ltd, and the personal accounts of their managing directors and directors.
The bench issued bailable warrants against the directors of the respondent companies.
The CJI warned that if they fail to appear on the next date, Non-Bailable Warrants will be issued.
The bench restrained the builder from creating any third-party rights or delivering possession to any third parties until further notice.
It asked the chief secretary of Haryana, the DGP, all district collectors, and police commissioners to ensure strict compliance with these orders and submit affidavits.
