SC freezes Parsvnath Group's bank accounts, issues warrants against directors

The Supreme Court has ordered the freezing of bank accounts of Parsvnath Hessa Developers Pvt Ltd, Parsvnath Developers Ltd, and their managing directors, while also issuing bailable warrants against the company's directors in connection with delays in handing over flats to homebuyers.

The action came after a public interest litigation (PIL) highlighted that homebuyers were yet to receive possession of their flats despite orders passed by the Real Estate Regulatory Authority (RERA).