PLAZA FINCAP PRIVATE LIMITED

Introduction

In the competitive landscape of real estate development, potential buyers often seek to understand a builder’s track record, especially when it comes to legal matters. Plaza Fincap Private Limited, primarily operating in Haryana and Uttar Pradesh, provides insights into their operations through the legal cases filed against them. This article delves into the builder's complaint history, legal performance, and offers guidance for prospective buyers.

Legal Overview of Plaza Fincap Private Limited

Plaza Fincap Private Limited has faced a total of three legal complaints, with outcomes varying significantly. A detailed analysis reveals that the builder has won 2 cases while losing 1, offering a glimpse into the legal environment surrounding their business practices.

Cases Lost

In the single case that Plaza Fincap lost, the appellant asserted that the possession offer dated 09.02.2019 was flawed and that the builder failed to provide a delay penalty as mandated by the Regulatory Authority's …

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The analysis of the cases filed by the builder Plaza Fincap Private Limited, which it lost, reveals several key insights into its litigation patterns. These cases generally fall into three common themes: 'Delayed Possession Claims', 'Penalties for Project Delays', and 'Compliance with Regulatory Orders'. Each theme highlights specific disputes that the builder encountered in its dealings.

1. Delayed Possession Claims: In these cases, the builder contested the timelines of possession and alleged deficiencies in the offers made to buyers. For instance, the builder claimed that the offer of possession was defective, indicating a lack of proper communication or documentation regarding the possession timeline.
2. Penalties for Project Delays: The builder frequently faced disputes over penalties linked to project delays. Despite claiming adjustments to such penalties, the builder often found itself at odds with regulations that mandated penalties for delays, thus revealing a pattern where …

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An analysis of the cases filed by the builder, Plaza Fincap Private Limited, which it won, revealed the following information.

The primary theme that emerged from the case summaries is Delayed Possession Claims. In each case, the complainants claimed that the builder failed to hand over possession of the flats despite having received the full payment. These disputes often escalated to requests for compensation due to the alleged delays. The builder's recurring defense against these claims highlighted Effects of Economic Factors on Project Timelines, citing unexpected events such as demonetization and the implementation of the Goods and Services Tax (GST) as key reasons for project delays.

The builder brought these cases to court primarily to contest penalties related to these delays and to defend against what it perceived as unfair accusations from buyers. The common triggers for litigation appear to arise from situations where buyers, facing their own …

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