SHREE SHUBHARATNA DEVELOPERS PRIVATE LIMITED

Introduction

In the real estate market, selecting the right builder is crucial for ensuring a smooth property investment experience. Shree Shubharatna Developers Private Limited, operating primarily in Gujarat, comes into focus due to its limited track record of legal disputes and compliance issues. In this blog, we will analyze their performance, legal challenges, and what potential buyers should consider when engaging with this builder.

Company Overview

Shree Shubharatna Developers Private Limited is a builder based in Gujarat, with a unique position in the market due to its limited number of legal cases—only one complaint. Understanding the nature of this complaint and the outcome provides insight into the builder’s operational transparency and customer handling.

Legal Case Details

A review of the legal disputes reveals that Shree Shubharatna Developers faced a single case where they were found lacking in compliance with an important regulatory requirement:

• Prevalent Issue: The builder was penalized for failing to submit the annual audit report (Form-5) for the financial year 2019-20 in a timely manner.
• Verdict: The authority imposed a fine of Rs. 60,000 and mandated the submission of the overdue report within 30 days. The builder did not win this case, indicating a failure to meet audit requirements, which can be critical in maintaining trust with stakeholders and clients.

Analysis of Legal Performance

Cases Lost

The case lost by Shree Shubharatna Developers revolves around compliance with mandatory statutory requirements. This shows a pitfall in their operational practices, where time management and regulatory adherence could be better implemented, ultimately affecting their standing with clients and regulatory bodies.

Cases Won

Interestingly, Shree Shubharatna Developers has no records of won cases, highlighting a concerning lack of successful legal defenses or grievances resolved in their favor. This could either reflect a focus on settlements or a subsequent absence of challenges to their operations.

Conclusion

Overall, Shree Shubharatna Developers Private Limited presents a mixed picture. The single complaint and subsequent loss indicate areas of concern, primarily related to regulatory compliance. While the builder currently does not have a history of extensive litigation, potential buyers should approach with due diligence.

Tips for Potential Buyers

1. Investigate Regulatory Compliance: Before committing, ensure that the builder has timely submitted all required documents, like annual audit reports, as non-compliance might affect future dealings.
2. Seek Customer Reviews: Investigate online forums or platforms for customer testimonials regarding project delivery and post-sales service.
3. Approval Status: Check the status of their projects—ensuring they are compliant with local laws and regulations can save future complications.

General Tips for Selecting Any Builder

1. Check Background and Reputation: Research the builder’s history, customer satisfaction rates, and any legal issues encountered.
2. Visit Past Projects: If possible, tour previous projects to assess the quality of construction and adherence to timelines.
3. Understand Financials: Ensure you have clarity on the project’s cost structure, payment schedules, and any hidden fees associated with the purchase.

By considering these factors, potential buyers can safeguard their interests when entering into contracts with builders like Shree Shubharatna Developers Private Limited.

Analysis of the cases filed against Shree Shubharatna Developers Private Limited, where the builder lost, reveals several key insights into their legal challenges. The cases can be broadly categorized into two themes: Regulatory Compliance Disputes and Delay in Submission of Mandatory Reports.

The first type of dispute revolves around the builder's failure to adhere to regulatory requirements. In the sole case summarized, the builder was fined for not submitting the annual audit report (Form-5) for the financial year 2019-20 within the prescribed time limit. This highlights a pattern where cases are often brought to court due to the builder’s non-compliance with essential legal or regulatory obligations.

The reason people commonly contest such penalties is to avoid the financial repercussions associated with late submissions and to fulfill their obligations as a development company. The builder, in this case, sought an explanation for the delay, indicating a defensive posture rather than one of compliance, which is critical in avoiding litigation in the first place.

Examining the outcomes reveals that the builder lost due to insufficient adherence to the required timelines and procedures due to regulations. While the summary does not provide extensive details on additional cases, it is important to note that similar patterns often emerge in real estate development—such as common triggers for litigation including project delays, disputes over land classification, or inadequate documentation.

In conclusion, the cases against Shree Shubharatna Developers Private Limited serve as a reminder of the importance of regulatory compliance in real estate development. Builders must prioritize timely submissions of necessary reports and ensure their operations align with the legal framework to avoid penalties and disputes.