NCDRC directs Parsvnath to monitor refunds and payments

The National Consumer Disputes Redressal Commission (NCDRC) has, through consistent monitoring, forced a leading real estate company to compensate a flat buyer with approximately Rs 80 lakh, addressing a common consumer grievance that orders from consumer commissions are frequently disregarded. In recent rulings, the NCDRC took decisive action against Parsvnath Developers, who, more than three years after being instructed to refund a Delhi resident's payment with interest, failed to comply with the directive. Notably, the NCDRC bench, consisting of Subhash Chandra and Sadhna Shanker, on November 17, explicitly stated that if the two cheques totalling Rs 15 lakh provided by the developer were not honoured, a daily penalty of Rs 5,000 would be imposed on the builder. The order specified, 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. Setting the matter for November 29, the commission instructed the builder to submit a clear statement of account, along with an affidavit outlining the payment schedule. In July 2019, the NCDRC had issued an order instructing the builder to refund the entire principal amount of Rs 52 lakh to Rajnish Seth, the flat buyer. Additionally, the builder was directed to pay compensation at an 11% simple interest rate on Rs 40.3 million, calculated from the date of each payment to the date of the refund.