Parsvnath Developers Limited has issued a statement in response to recent media reports concerning the involvement of their Managing Director & CEO, Mr. Sanjeev Jain, in a legal matter. The company wishes to clarify that, while there have been discussions regarding legal proceedings related to a complaint from an allottee regarding delayed possession of a unit, Parsvnath Developers is fully dedicated to adhering to the directives of the Hon’ble National Consumer Disputes Redressal Commission (NCDRC) in New Delhi.
The company recognizes that these legal proceedings stem from a consumer complaint filed in 2017, which resulted in a ruling by the NCDRC. Parsvnath as already made significant payments to the complainant as mandated by the NCDRC. However, an issue with the repayment process led to the issuance of a non-bailable warrant against Mr. Sanjeev Jain. The company has since resolved the situation by depositing the required funds with the court, effectively addressing the warrant.
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Parsvnath Developers stresses that both the company and its promoters have a longstanding reputation in the real estate industry as compliant and law-abiding entities. They reaffirm their commitment to protecting the interests of all allottees and adhering to court directives. The company assures its stakeholders that it remains focused on fulfilling its obligations and responsibilities to its customers.
This statement reflects the company’s ongoing dedication to transparency and its commitment to maintaining the highest standards of integrity in its business practices.
Disclaimer: This information is based on an official statement issued by Parsvnath Developers Limited.
