Sanjeev Jain, the Director and CEO of Parsvnath Landmark Developers, a subsidiary of Parsvnath Developers that is in the real estate business, was arrested by the Delhi Police STF Shahdara from the IGIA in the national capital along with Rs 1,00,0000 cash.
SHAHADARA DCP Surendra Choudhary said the arrest was facilitated after non-bailable warrants were issued against Jain after he absconded from the National Consumer Disputes Redressal Commission.
Choudhary said in a press release that four NBWs and one BW issued by the National Consumer Disputes Redressal Commission were outstanding against Jain at the Shahdara police station.
Jain lives in DLF Phase-2 in Gurugram, where Rajat Babbar registered the case. The statement went on to reveal how the police team from the Shahdara STF followed Jain in a 60-kilometer chase in a bid to arrest him before finally nabbing the latter at the Delhi airport.
The arrest of Parsvnath Landmark Developers CEO has not surprised the people in the real estate business, as the firm and its key players have been accused of different offenses in the recent past.
Perhaps the latest development is likely to escalate the pressure on the scrutiny of the company’s operations and the accountability of the management to their customers and stakeholders.
