New Delhi, Jul 27 (PTI) The Supreme Court on Monday asked Parsvnath Developers and its directors to file a status report on cases filed by hassled homebuyers against them and the stages where the matters are pending.

The top court also directed the real estate firm to complete within one week the work of a dwelling unit booked by Rita Tikku, a cancer survivor, and Lokaish Tikku, who invested their life savings in the 'Parsvnath Exotica' project in Sector 53, Gurugram.

A bench comprising Chief Justice Surya Kant and justices Joymalya Bagchi and V Mohana was hearing a plea filed by the Tikkus against non-delivery of a flat by the real estate firm.

At the outset, the counsel for Parsvnath Developers told the bench that it has deposited the amount with interest with the Supreme Court registry as directed.

The counsel for the Tikkus said that the lifts were not working in the building, and, moreover, there was no power supply.

“No doubt. A lot of work has to be done,” the bench said.

Almost 30 families have been shifted in the building, the counsel for the real estate firm said.

“Let the work be completed by October 31 following the latest design. We direct the company and its directors to file a status report on the cases filed against them and the various stages they are at,” the bench said.

On July 20, the bench granted Parsvnath Developers one week as the final opportunity to comply with the orders passed in favour of the homebuyers in Gurugram by depositing the entire amount along with 12 per cent interest with the registry within one week.

Observing that failure to do so would result in imprisonment, the bench made very strong remarks against the real estate firm and its directors.

“The whole country has been duped by them. If they (Parsvnath Developers and its directors) do not comply with the orders within a week, they will be sent to jail. They are making a mockery of the system.

“The same thing that happened to the Unitech (directors) will happen to them (Parsvnath Developers). The entire system has been hijacked," the CJI said.

The bench had said that the respondent builder and its officials have entered an appearance.

“Let them explain non-adherence to orders by HRERA (Haryana Real Estate Regulatory Authority). Before the execution of non-bailable warrants, which are already issued, we grant a last opportunity to the builders to deposit the entire recoverable amount along with interest of 12 per cent per annum with the Supreme Court registry.

“Let it be deposited within a week. Post this case next Monday,” the bench had ordered.

It said that according to an earlier order, “Everything will continue to remain frozen.” The bench did not accept the submission that other homebuyers were living in the same building where the petitioners had booked the home.

“No plan. Deposit and then talk. We are under Article 142 (of the Constitution), we are not concerned with IBC (proceedings), insolvency, etc… "Let there be no misunderstanding about our order. The next step is jail. That is all," the CJI had said while adjourning the matter to July 27.

Article 142 of the Constitution grants the top court plenary power to pass any decree or order necessary for doing "complete justice" in any pending case.

On July 13, the top court froze the bank accounts of the real estate firm 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.

Taking note of the plea, the bench had issued notices to the Haryana government, Parsvnath Hessa Developers Pvt Ltd through its managing director, Parsvnath Developers Pvt Ltd, the district magistrate of Gurugram and Haryana's Department of Town Country Planning.

It also asked the Haryana chief secretary, the DGP, all district collectors and police commissioners to ensure strict compliance with these orders and submit affidavits.

It also ordered that neither a third party right shall be created nor the possession of the flat will be given to a third party in the meantime.

The bench said the instant petition highlighted the plight of the homebuyers who, despite paying full sale consideration, continued to be deprived of their home for the last two decades.

“The petitioners are senior citizens, and they invested in Parshunath Exotica in Sector 53, Gurugram. The petitioners were allotted residential units in 2006, followed by the BBA (builder-buyer agreement) in early 2007.

“Rs 1.78 crore was the sale consideration. The flat was to be handed over in 36 months. Possession became due in February 2013,” it noted.

Despite paying the full amount, the petitioners found that the construction was not even near completion. PTI SJK ARI

Homebuyer enforcement measures require developer compliance with deposit, project completion, and disclosure of pending cases. Homebuyer enforcement proceedings required the developer and its directors to disclose the status of pending purchaser cases and complete outstanding work in the booked dwelling unit by the specified deadline. Earlier directions required deposit of the recoverable amount with annual interest and warned of coercive consequences for non-compliance. Protective measures included freezing bank accounts, issuing bailable warrants, and preventing creation of third-party rights or transfer of possession. Insolvency proceedings were stated not to impede enforcement of directions concerning the homebuyers' claims.