SHIV PROFINS PRIVATE LIMITED

Introduction

In the ever-evolving landscape of real estate, selecting the right builder is crucial for potential homebuyers. Today, we explore Shiv Profins Private Limited, a builder operational in Haryana, and their legal track record that reflects certain dynamics within the real estate construction market. This blog post will dissect their legal cases, analyze the outcomes, and provide insights for potential buyers.

Overview of Legal Cases

Shiv Profins Private Limited has been involved in a few legal disputes that raise red flags regarding their operations. Notably, they have faced a total of 2 complaints, all of which have resulted in losses for the builder. This is critical information for potential buyers as it demonstrates a pattern of legal challenges faced by the company.

Cases Won

Interestingly, while the builder has a record of 2 cases lost, the summary of these cases portrays a scenario where the complainants sought refund amounts totaling Rs. 34,92,148 along with interest and compensation for delays in possession. The verdict from the concerned authority directed the builder to refund the claimed amount with a specified interest rate. Here, the builder claimed that remaining dues were unpaid by the complainants and attributed their delays to force majeure conditions. However, the consistent verdict in both cases favored the complainants.

Analysis of Legal Patterns

Common Factors in Cases Lost

1. Failure to Deliver as Promised: Both complaints centered on the themes of refund requests and delay in possession, which indicates a pattern of not meeting delivery timelines or fulfilling financial obligations to flat buyers.
2. Financial Disputes: The recurrent issue of financial disputes regarding claimed payments suggests a lack of clear communication and agreement between the builder and homeowners. This could stem from inadequacies in contract clarity.
3. Judgment Against the Builder: The consistent legal rulings against the builder might reflect broader trends where the authority sided with consumer rights, indicating possible inconsistencies in the builder’s business practices.

Common Factors in Cases Won

Not applicable, as Shiv Profins Private Limited has not recorded any successful case outcomes. This represents a concerning lack of favorable resolutions in their legal encounters.

Overall Assessment of Shiv Profins Private Limited

The legal track record of Shiv Profins Private Limited shows a significant struggle in fulfilling contractual obligations to buyers and managing timely possessions of their flats. With 2 lost cases and no wins, it raises questions about their operational efficacy and reliability as a builder. This could be a potential red flag for prospective homebuyers considering investment in their projects.

Tips for Potential Buyers

1. Conduct Thorough Research: Before purchasing, investigate the builder's history, focusing on previous legal disputes, customer feedback, and overall project reviews. Knowledge of the builder's reputation is paramount.
2. Review Agreements Carefully: Ensure that all agreements are transparent, particularly regarding payment terms and possession timelines. Pay attention to any clauses that might affect your investment.
3. Seek Legal Counsel: Consider consulting with a legal advisor experienced in real estate to help navigate contracts and protect your interests.

General Tips When Selecting a Builder

• Look for Established Reputation: Choose builders with a proven track record and positive customer experiences. An established builder often comes with a history of quality work and accountability.
• Evaluate Completed Projects: Visit completed projects by the builder to assess the quality and livability of their constructions.
• Understand Financial Health: Assess the financial stability of a builder; a financially strained company may face issues that affect project delivery.

Conclusion

In conclusion, while Shiv Profins Private Limited operates in Haryana, their history of legal complaints resulting in losses raises substantial concerns for potential homebuyers. Buyers should exercise caution and conduct extensive due diligence before making significant investment decisions with this builder in mind.

Analysis of the cases filed against Shiv Profins Private Limited, where the builder lost, reveals several key themes and key pieces of information regarding their legal disputes.

The cases highlight ongoing issues primarily centered around "Delayed Possession Claims" and "Disputes over Payment and Refunds". In these cases, the complainants often cited substantial deposits made towards their purchases, with amounts reaching Rs. 34,92,148/-, and sought refunds due to significant delays in the possession of flats. The builder, on the other hand, consistently attributed these delays to "Force Majeure and Attributed Delays", claiming that unforeseen circumstances and failure to complete payments were crucial factors in the inability to deliver properties on time.

A pattern emerges where common triggers for litigation involve the builder's failure to meet project timelines and fulfill their commitments, leading purchasers to contest for refunds and interest on their investments. The reasons provided for the delays show a degree of defensive posture from the builder, as they often sought to deflect responsibility towards the purchasers or unfortunate circumstances rather than acknowledging potential systemic issues within their project management.

The conclusion of these cases reveals a significant shortcoming on the builder’s part, as evidenced by the authority's decision to direct refunds with interest at the rate of 9.40% per annum, demonstrating a legal recognition that the builder failed to uphold their end of the agreement. The builder’s losses in these cases likely stem from insufficient evidence to support their claims of force majeure, failure to communicate effectively with purchasers regarding project delays, and a lack of compliance with regulatory requirements governing real estate transactions.

Overall, these legal disputes serve as a cautionary tale for potential buyers considering investments with Shiv Profins Private Limited and highlight the importance of thorough due diligence before making any financial commitments.