Supreme Court freezes Parsvnath accounts, issues warrants over delayed flats

Court stay obtainedRegulatory & Legal View source PDF Explain this filing

PARSVNATH · price

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Price reactionminutes from the announcement price · days from the prior close

-1.8%Reaction day

₹2.26

prior close

₹2.22

announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used+0.6%-2.4% vs market

On the reaction day the stock moved 2.4 pts less than Nifty Microcap 250, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Next day

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AI summary

Supreme Court froze bank accounts of Parsvnath Developers and subsidiary Parsvnath Hessa Developers, plus personal accounts of directors. Bailable warrants of Rs 25,000 issued. Court stayed all property transactions. Relates to Parsvnath Exotica project in Gurugram where buyers paid about Rs 1.78 crore per flat between 2006-2014 but never got possession. Company is under insolvency (Resolution Professional signed filing). Next hearing 20 July 2026.

Likely market impact

Highly negative. Frozen accounts hurt liquidity, warrants target directors, stay blocks asset sales. Shareholders face more uncertainty in insolvency.