Consumer Forum Directs Builders to Compensate Parsvnath Exotica Buyers

02 Apr 2024 CW Team

A consumer forum has ruled in favour of Parsvnath Exotica buyers, ordering the builders to provide compensation for the delay in possession of their properties. This decision marks a significant victory for the aggrieved buyers who have faced prolonged waiting periods for their homes.

The directive from the consumer forum underscores the importance of upholding consumer rights and holding developers accountable for project delays. It serves as a deterrent against unfair practices in the real estate sector and highlights the need for builders to fulfil their commitments to homebuyers in a timely manner.

The compensation ordered by the forum is expected to provide relief to Parsvnath Exotica buyers who have endured financial and emotional hardships due to the prolonged delay in possession. It reaffirms the principle of justice and restitution for consumers who have been adversely affected by developer negligence.

Furthermore, the ruling sets a precedent for similar cases involving project delays and non-delivery of homes, sending a clear message to developers to prioritise timely completion and delivery of projects. It underscores the forum's commitment to protecting the interests of homebuyers and ensuring accountability within the real estate industry.

Overall, the consumer forum's decision to mandate compensation for Parsvnath Exotica buyers reflects a victory for consumer rights and serves as a reminder to developers to uphold their obligations towards homebuyers. As the affected buyers receive the compensation they deserve, it reaffirms the importance of transparency, accountability, and adherence to timelines in the real estate sector.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..