Parsvnath Developers’ Non-Bailable Warrant Issue Resolved
This blog addresses the recent news from August 4th and 5th, 2024, concerning the non-bailable arrest warrant issued by the National Consumer Disputes Redressal Commission (NCDRC), New Delhi, against Mr. Sanjeev Jain, Managing Director and CEO of Parsvnath Developers Limited. The warrant was related to Execution Application No. 83 of 2022, originating from Consumer Complaint No. 2489 of 2017, titled Rajat Babbar & Anr Vs. Parsvnath Developers Limited.
Parsvnath Developers, along with its leadership, has always shown the utmost respect for the directives of the Hon’ble Courts and is fully committed to fulfilling their obligations and responsibilities. The company remains dedicated to protecting the interests of their allottees and strictly adheres to all court orders.
The current situation stems from a complaint filed by an allottee who requested a refund due to delays in the handover of their flat. Although the company made substantial payments in accordance with the National Commission’s orders, a portion of the payment was delayed, leading the Hon’ble Commission to issue a non-bailable warrant against Mr. Sanjeev Jain.
Following this, the company promptly deposited the remaining amount with the court, effectively resolving the issue.
This resolution reflects Parsvnath Developers’ strong commitment to its customers and determination to comply with court directives. The company continues to ensure that all obligations are met and that the interests of its allottees are safeguarded. These actions demonstrate their dedication to accountability and transparency, aiming to rebuild trust with stakeholders.
In conclusion, Parsvnath Developers remains focused on customer satisfaction, compliance with legal requirements, and adhering to court orders. The swift resolution of this matter reaffirms their commitment to maintaining a strong relationship with their customers and stakeholders.
Disclaimer: The information in this article has been sourced from a company statement issued by Parsvnath Developers Limited.