NCDRC directs Parsvnath refund

30 Nov 2023 CW Team

At a certain point in time, it was observed by the National Consumer Disputes Redressal Commission (NCDRC) that consumers often complain about the non-implementation of orders issued by consumer commissions. As a result of continuous monitoring, the NCDRC compelled a real estate major to pay approximately Rs 80 lakh in compensation to a flat buyer.

In a recent series of orders, the NCDRC took strong action against Parsvnath Developers, who had failed to provide a refund and compensation for a delay to a resident of Delhi. This occurred more than three years after the commission had directed the builder to reimburse the payment made by the flat buyer along with interest.

Notably, the NCDRC bench, consisting of Subhash Chandra and Sadhna Shanker, clarified in a recent decision on November 17 that if two cheques totalling Rs 1.5 million, provided by the developer, were not honoured, the builder would be charged a daily cost of Rs 5,000. The order stated, "He also undertakes that the cost of Rs 10,000 imposed on the last date shall be deposited during the course of the day, and proof of payment will be filed." A similar penalty had been imposed earlier to ensure compliance.

Real Estate

05 Sep 2025

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..