FIR lodged against Parsvnath, EOW probes buyers' allegation

Delhi Police has registered an FIR against realty firm Parsvnath Developers for allegedly duping buyers of crores of rupees in its housing project in Civil Lines area of North Delhi.
The Economic Offence Wing (EOW) of Delhi Police has launched the probe against the firm following complaints by a section of the buyers. Parsvnath, however, strongly denied the allegations.
"We have registered an FIR against Parsvnath Developers Ltd and a probe is on," a senior police official of EOW said.
The FIR was lodged after buyers of Parsvnath's La Tropicana project accused the firm of a Rs 1,000 crore fraud.

Parsvnath chairman Pradeep Jain said "apart from delay in completion of the project, all the allegations are baseless. The construction of the project is going on. We will deliver the first phase this year and the second phase next year."
He said the company will pay compensation to the flat buyers for delay in completion of the project as per the condition in agreement with the buyers. The project has about 400 flats.
The FIR figures names of some top executive of the real estate firm.
The buyers and investors have also accused the firm of criminal breach of trust and conspiracy.