NEW DELHI: In a significant development, the Supreme Court on Thursday permitted the execution of conveyance deeds in favour of existing allottees of completed projects of the ailing real estate firm, Parsvnath Developers.
The top court also partially relaxed its July 13 order freezing the bank accounts of Parsvnath Developers and its associated entities to facilitate the payment of electricity charges and employees’ dues.
The lending financial institutions of the real estate firm, which is facing insolvency proceedings, have been directed by a bench comprising Chief Justice of India Surya Kant and Justice Joymalya Bagchi to make…