PUNJAB NATIONAL BANK
- States Active In: Gujarat, Jharkhand, Karnataka, Kerala, Odisha, Punjab, Rajasthan
| CIN | Not Available |
|---|---|
| Year Established | Not Available |
| Address | Not Available |
| Company Status | Not Available |
Overall Case Outcomes
Introduction
In the competitive landscape of real estate, selecting a builder is a crucial step for home buyers. This blog post examines Punjab National Bank, analyzing their legal performance based on recent complaints, cases won, and cases lost. Understanding their history can offer potential buyers insights into the builder's credibility and reliability.
Overview of Punjab National Bank
Punjab National Bank has encountered a total of 23 complaints, with a troubling record of 2 cases won and 21 cases lost. Their projects span several states, including Gujarat, Jharkhand, Rajasthan, Punjab, Odisha, Kerala, and Karnataka, indicating a broad operational footprint.
Legal Case Details
Cases Filed by Punjab National Bank
The builder has faced numerous legal challenges primarily related to the non-execution of registered deeds and failure to provide necessary documentation associated with property transactions. Lack of engagement from respondents during hearings has often resulted in dismissed cases.
Cases Lost
Punjab National Bank …
Cases Lost by Builder (When Defending)
Yearly Trend for these Cases
Common Topics
Analysis of the cases filed against the builder which it lost revealed significant insights into its business practices and the recurring themes of the disputes faced. The cases can be broadly categorized into several types, highlighting the common grievances of the complainants.
Many of the cases revolved around Delayed Possession Claims, where the builder failed to deliver possession of flats despite receiving full payment. Complainants often cited delays attributed to various reasons, some of which were contested by the builder, who occasionally invoked force majeure events to justify the lag. The authority consistently sided with the complainants, mandating the builder to complete constructions and hand over possession along with interest compensation.
Fraudulent Transactions and Disclosure Issues emerged as another significant theme. Multiple complainants alleged that the builder engaged in fraudulent activities, such as failing to register projects, not making necessary disclosures, and neglecting to return investments. The builder's claims …
Individual case details available for subscribers.
Cases Lost by Builder (When Filing)
Yearly Trend for these Cases
Common Topics
The analysis of the cases filed by the builder, Punjab National Bank, revealed significant insights into the recurring themes and challenges in the builder's operations. A notable pattern emerged across these cases, with the primary disputes centering on the non-execution of deeds of conveyance and the legal standing of the bank as an aggrieved party.
One of the most prominent issues was the builder's failure to execute registered deeds of conveyance for flats purchased by borrowers. This repeated failure was directly linked to complaints raised by the bank, which argued that the lack of such deeds hindered loan recovery efforts. The case summaries indicate that the builder often faced complaints relating to the non-mortgaging of flats to the bank as security for loans. This highlights a significant disconnect between the builder’s obligations and the expectations of financial institutions.
The bank frequently found itself in court, primarily contesting penalties and seeking …
Individual case details available for subscribers.
Cases Won by Builder (When Defending)
Yearly Trend for these Cases
Common Topics
An analysis of the cases filed against the builder, Punjab National Bank, which the builder won, revealed the following information.
The complaints largely revolved around themes such as Delayed Possession Claims and Jurisdictional Disputes. In the analyzed cases, complainants sought refunds, interest, and compensation for delays in taking possession of flats. However, the builder consistently pointed out the Adjudicating Officer's lack of jurisdiction to grant such requests, highlighting a recurring issue regarding the legal framework under which these complaints were filed.
Several cases focused on the claims for refunds and interest due to alleged delays in possession. This theme suggests a pattern where buyers, dissatisfied with the timeline of project completion, felt compelled to seek redress through legal channels. The builder's defense, citing jurisdictional challenges, illustrates a key legal point that may have been overlooked by the complainants.
The common reasons for the builder's success in these legal battles can …
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