Parsvnath moves SC to lift curbs after depositing ₹2.9 crore in homebuyers' case

Parsvnath Hessa Developers Pvt Ltd deposited ₹2.9 crore in the Supreme Court as delayed possession compensation for two Gurugram homebuyers, Rita Tikku and Lokaish Tikku.

The deposit complies with a July 20 Supreme Court order requiring payment of the full recoverable amount plus 12% annual interest within a week.

The company seeks lifting of coercive measures, including frozen bank accounts of directors and senior officials, and restrictions on assets.

Parsvnath identified a flat in Parsvnath Exotica to hand over to the petitioners by October.

The Supreme Court, led by Chief Justice Surya Kant, will review compliance on Monday and decide whether to continue interim actions, including possible imprisonment of management.