India, Nov. 6 -- The Supreme Court on Thursday allowed the allottees of stressed residential projects of Parsvnath Developers to execute sale deeds, observing that the relief will apply only to completed projects and cannot be availed for creating rights in favour of third parties.

The relief has come at a time when the top court is examining the mode for reviving construction of the unfinished residential projects of the real estate group, which has been accused of diverting funds of homebuyers and is currently facing insolvency proceedings.

A bench of Chief Justice of India (CJI) Surya Kant and justice Joymalya Bagchi passed the order in a batch of petitions filed by distressed homebuyers seeking refund or completion of construction....