# Delhi Consumer Commission Sends Two Parsvnath Developers Directors to Custody Until November 18 > Delhi's consumer commission sent two Parsvnath Developers directors to judicial custody until November 18 in 46 home buyer cases over unpaid refunds and compensation. - Published: 2026-11-07T19:17:53+00:00 - Section: Legal & Disputes - Author: News Desk - URL: https://newsforagent.com/news/2026-11-07/parsvnath-directors-judicial-custody-home-buyers - Source: [The Times of India](https://timesofindia.indiatimes.com/city/delhi/parsvnath-directors-sent-to-judicial-custody-in-46-home-buyer-cases/articleshow/135645277.cms) ## Key takeaways - Sanjeev Kumar Jain and Rajeev Jain were remanded to judicial custody until November 18 in 46 pending cases. - The commission refused Abhishek Mundhra's withdrawal request because five post-dated cheques of Rs 25 lakh each remained unencashed. - The directors face arrest warrants in five cases and have been declared proclaimed offenders in seven. Delhi State Consumer Disputes Redressal Commission has sent two [Parsvnath Developers](https://akta.pro/company-profiles/00062dp/parsvnath-developers) directors, Sanjeev Kumar Jain and Rajeev Jain, to judicial custody until November 18 in 46 pending cases over unpaid refunds and compensation awarded to home buyers, [The Times of India](https://timesofindia.indiatimes.com/city/delhi/parsvnath-directors-sent-to-judicial-custody-in-46-home-buyer-cases/articleshow/135645277.cms) reported. Parsvnath Developers is a publicly listed Indian real estate developer founded in 1985 and headquartered in New Delhi, currently under NCLT insolvency proceedings. ## Why the Delhi Commission Ordered Custody Commission president Justice Sangita Dhingra Sehgal passed the order while hearing an execution case filed by home buyer Abhishek Mundhra. Mundhra sought to withdraw his case after an out-of-court settlement of Rs 1.25 crore through five post-dated cheques of Rs 25 lakh each from the company's directors. Justice Sehgal refused the withdrawal, noting that no written agreement was on record and the cheques remained unencashed, and said the proceedings cannot be closed until the buyer actually receives the money. Justice Sehgal flagged the directors' conduct in other cases, observing, "It is significant to note that the JDs who are present in court have been evading the process of law in various cases. They have issued cheques to the DH/DHs and the same were dishonored on presentation by the DH." The commission noted that the directors faced arrest warrants in five cases, had been declared proclaimed offenders in seven cases, and faced pending proclaimed offender proceedings in 34 other cases. Taking up the 46 pending matters on its own initiative, the commission observed, "All the above mentioned matters are taken up suo moto since the JD has not cleared the decretal amount in these cases and execution petition are still pending." The two directors, produced before the commission from Tihar Jail, were taken into custody in all 46 matters and remanded to judicial custody until November 18. ## Parsvnath's Insolvency and Unpaid Dues According to akta.pro [company records](https://akta.pro/company-data), the National Company Law Tribunal initiated a Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code in April 2026, with Manoj Kumar Anand appointed Interim Resolution Professional. In May 2026, Haryana's Town and Country Planning Department debarred Parsvnath Developers and its seven directors from obtaining further state licences, citing two FIRs for cheating and criminal breach of trust and Rs 333.31 crore in unpaid EDC/IDC dues. ## Earlier Supreme Court Pressure on Parsvnath On July 20, 2026, the Supreme Court gave Parsvnath Developers one week to deposit the entire dues with 12% annual interest or face jail time for its directors, Deccan Herald reported. On September 8, 2026, the Supreme Court rejected the company's proposal to hand over flats or repay homebuyers, calling it a delay tactic, and ordered a fresh proposal, The Times of India reported. On November 5, 2026, the Supreme Court permitted execution of conveyance deeds for Parsvnath homebuyers in completed projects, partially relaxing a July 13 order freezing bank accounts, The Times of India reported. ## What Happens on November 18 Mundhra's request to withdraw his case will remain pending until all five cheques, scheduled for payment between December 3, 2026, and April 3, 2027, are encashed. The commission directed home buyers from the other 46 cases to appear on November 18. ## Companies in this story - [Parsvnath Developers company profile](https://akta.pro/company-profiles/00062dp/parsvnath-developers) · website: http://www.parsvnath.com --- News for Agent · https://newsforagent.com/llms.txt