| CIN | U51909WB2007PTC118678 |
|---|---|
| Year Established | 14-Sep-07 |
| Address | 19/1, SIKDAR PARA STREET, KOLKATA WB 700007 IN |
| Company Status | Private |
Understanding Accord Agencies Private Limited: A Builder Overview
Accord Agencies Private Limited operates within the realm of real estate development, primarily focusing its projects in Rajasthan, India. As potential homebuyers or investors, it's critical to evaluate a builder's track record, especially in legal matters, to gauge their credibility and reliability. In this post, we will analyze the legal standing of Accord Agencies Private Limited based on the limited data available.
Legal Case Analysis
Overview of Legal Complaints
Accord Agencies Private Limited has faced legal scrutiny, with a total of 1 complaint lodged against them. Notably, the builder has not succeeded in winning any cases; instead, they have lost 1 case. This single instance of litigation reflects a challenge for the builder in maintaining compliance with regulatory expectations.
Details of the Legal Outcome
The details surrounding the case highlight the consequences for the builder:
- The Authority directed the builder to upload Quarterly Project Reports (QPRs) within 30 days.
- If these reports were not uploaded as mandated, a penalty of Rs. 10,000/- per QPR would apply, cumulatively aggravating the builder’s financial liability.
- Additionally, the project’s Escrow Bank Account was to remain frozen until the pending QPRs were submitted or uploaded.
This indicates that the builder may have faced issues regarding transparency and adherence to project-reporting requirements, culminating in regulatory actions taken against them.
Patterns in Legal Outcomes
Cases Lost
The case lost by Accord Agencies seems to revolve around compliance with reporting and accountability norms. The findings point towards a lack of timely submissions of project updates, which is crucial for maintaining trust between builders and homebuyers. Patterns in lost cases, although limited in number, suggest potential weaknesses in project management and communication with regulatory authorities.
Cases Won
Interestingly, while the builder has one case listed as resolved in their favor, it pertains not to a direct victory over a buyer but rather compliance towards fulfilling regulatory demands, which underscores a focus on procedural adherence rather than project success. The absence of any cases won against customer's claims suggests a concerning trend for potential buyers.
Conclusion: Assessing Accord Agencies Private Limited
In conclusion, Accord Agencies Private Limited presents a mixed picture based solely on the available data. While they have taken steps to comply with regulatory requirements, a track record of lost cases raises red flags for potential buyers concerning the reliability of project delivery and customer service.
Tips for Potential Buyers
- Thorough Research: Before making any purchasing decisions, conduct extensive research on both the builder's background and customer reviews.
- Inspect Project Compliance: Check if the builder meets regulatory requirements, particularly regarding project reporting and timelines.
- Seek Legal Clarity: If possible, consult with a legal expert to understand the implications of prior cases against the builder and assess their credibility.
- Demand Transparency: Ensure you have access to all necessary documentation, including project timelines, financial scripts, and regulatory compliance records.
General Homebuyer Tips
- Engagement with Existing Customers: Engage with current homeowners in projects developed by the builder to understand their experiences firsthand.
- Evaluate Financial Health: Look into the financial records and stability of the builder to mitigate the risk of project delays or deterioration in quality.
- Use Trusted Sources: Utilize trustworthy real estate platforms and forums for information regarding builder performance and integrity.
In essence, while Accord Agencies Private Limited may have potential, the findings point towards the necessity for due diligence and caution on the part of prospective buyers when considering any investments in their projects.
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Here you’ll find cases where others sued the builder, and the builder lost. We’ve included a simple summary and key takeaways from each case.
Analysis of the cases filed against Accord Agencies Private Limited, where the builder lost, reveals several key themes across the disputes. The cases can be broadly categorized into two main topics: compliance with regulatory requirements and project delay and penalty disputes.
In terms of compliance with regulatory requirements, the builder faced challenges related to their obligation to maintain and submit quarterly progress reports (QPRs). The Authority directed the builder to upload the pending QPRs within a stipulated timeframe, emphasizing the importance of transparency and compliance in project management. Failure to do so resulted in penalties, indicating a legal expectation that builders fulfill their reporting duties promptly.
Project delay and penalty disputes also emerge as a significant theme in these cases. Although the specifics of project delays were not detailed in the summary, the imposition of penalties suggests that Accord Agencies Private Limited was held accountable for insufficient progress or delays in project completion. This highlights a common concern in real estate projects, where timelines are crucial for meeting buyer expectations and fulfilling contractual obligations.
The reasons people commonly brought cases against the builder include contesting the penalties imposed for non-compliance and delays, as well as underlying issues related to project management and regulatory adherence. A pattern emerges wherein the builder’s failure to fulfill obligations triggered legal action, leading to a series of cases that underscore the challenges faced by Accord Agencies Private Limited in meeting standards and expectations in the real estate industry.
The builder lost these cases primarily due to their failure to comply with regulatory requirements, specifically concerning project reporting and timely communication of progress. The penalties imposed reflect a broader trend in which builders are held to account for transparency and expediency in their operations. Insufficient evidence of compliance or acceptable justifications for delays likely contributed to the unfavorable outcomes for the builder.
This table provides an analysis of individual cases that contributed to the summary above. Click on any row to expand and view complete details, and use the "Show More" button to load additional rows as needed.
| Case Number | State | Summary | Case Topic | Detailed Summary | Appellant Name | Respondent Name | Source |
|---|---|---|---|---|---|---|---|
| F.3(2063)RJIRERAIQP… | Rajasthan | The case involves a notice issued against a promo… | ["Non-uploading of … | {"appellant_claim": "", "respondent_claim": "", "… | Accord Agencies Pri… | https://rera.rajasthan.gov.in/Content/pdf/40862063.pdf |