Supreme Court Order Details

The Hon'ble Supreme Court of India passed an order dated July 13, 2026, in Writ Petition(s)(Civil) No. 640/2026 and 636/2026 (Rita Tikku & Anr. vs. State of Haryana Through Its Chief Secretary & Ors.).

Key Directives from Supreme Court Order

  • Freezing of bank accounts of Parsvnath Developers Limited (Respondent No. 3) and Parsvnath Hessa Developers Private Limited (Respondent No. 2, wholly owned subsidiary) until further orders
  • Freezing of personal accounts of Managing Directors/Directors/Officers of both companies until further orders
  • Issuance of bailable warrants against Respondent nos. 2 and 3, their Directors and officers to secure personal presence before the Court on July 20, 2026
  • Stay on creation of third-party rights, delivery of possession to third parties, or any transactions pertaining to immovable assets of Respondent nos. 2 and 3 until further orders

Background of the Case

The case involves senior citizen homebuyers who invested in residential apartments in "Parsvnath Exotica" project in Sector-53, Gurugram, developed by the company and its subsidiary.

Key Timeline:

  • Flat allotments made in 2006 with Flat Buyer Agreements in early 2007
  • Total sale consideration approximately ₹1.78 crores per flat
  • Possession due in February 2013 per agreement terms (36 months from construction date)
  • Homebuyers paid entire sale consideration between 2006-2014
  • Construction remained incomplete despite payments

HRERA Proceedings

  • Homebuyers approached Haryana Real Estate Regulatory Authority (HRERA) in 2021
  • HRERA passed orders dated November 26, 2021, directing:
  • Payment of interest at 9.3% per annum for delay period
  • Compensation from stipulated possession date until actual possession
  • Orders attained finality as not challenged by builders
  • Recovery Certificates issued for ₹1.81 crores in favor of homebuyers

Execution Proceedings

  • Execution proceedings initiated in 2022 remained ineffective
  • Multiple show-cause notices issued to company directors
  • Arrest warrants issued against directors previously
  • Bailiff denied entry to company premises on several occasions
  • No recovery achieved through Collector, Gurugram from June 2023 to April 2024

Additional Court Observations

  • Supreme Court expressed concern about efficacy of RERA mechanism
  • Noted "brazen disregard" for HRERA authority by builders
  • Suggested possible collusion between state authorities and builders
  • Referenced pending SLP(C) No. 19880/2025 challenging Punjab and Haryana High Court judgment that struck down HRERA's recovery certificate power

Compliance Requirements

  • Chief Secretary of Haryana, DGP Haryana, all Collectors in Haryana, all Commissioners of Police/Superintendent of Police, Haryana, and all banks directed to comply with court directions
  • Compliance affidavits required through Senior Additional Advocate General of the State

Next Hearing Date

Matter listed for next hearing on July 20, 2026

Financial Impact

Specific financial impact not quantified in the disclosure, but involves potential liability of ₹1.81 crores in recovery certificates and ongoing interest obligations.