India, Sept. 9 -- The Supreme Court on Tuesday rejected the proposal of Parsvnath Developers specifying details about handing over possession of flats or repaying monies with interest to hundreds of hassled homebuyers, saying that it seemed like "another device" to delay the proceedings.

The top court cautioned that unless a fresh proposal satisfying the claims of all the "allottees or homebuyers" in companies and their subsidiary firms is placed on record, it will be "constrained to appoint a High-Powered Committee for entrustment of all the responsibilities."

The homebuyers' claims refer to the refunds, compensation for delayed possession, and non-execution of RERA orders. Taking the proposal of Parsvnath on record, a bench comprising...