SC warns Parsvnath executives of jail over refunds

The Supreme Court on Monday escalated its crackdown on errant real estate developers, warning the managing directors, directors and senior officials of Parsvnath Developers Ltd and Parsvnath Hessa Developers Pvt Ltd that they would face the same fate as the former top executives of Unitech unless they refunded two Gurugram homebuyers within a week, while also clearing that insolvency proceedings would not come in the way of enforcing its orders and sending them to jail ...