SHRI OM DEVELOPERS

Introduction

In the competitive world of real estate, discerning buyers need to equip themselves with information about builders before making significant investments. This blog post will delve into SHRI OM DEVELOPERS, a builder operating in Gujarat, and assess their track record based on available legal case data.

Overview of SHRI OM DEVELOPERS

SHRI OM DEVELOPERS is known for its operations in Gujarat, where they have a portfolio of projects. However, a closer look at their legal history reveals some important details that potential buyers need to consider.

Legal Case Details

Upon examination of SHRI OM DEVELOPERS' legal records, it is notable that they have encountered one formal complaint. Out of this, they lost one case, indicating challenges in adhering to regulatory requirements.

Case Analysis

• Lost Case:
  The builder faced allegations over the timely submission of the annual audit report (Form-5). The appellant claimed that SHRI OM DEVELOPERS failed to submit the report within the stipulated time frame. Although the builder defended their position by stating they had submitted the report, the authority ultimately determined a lack of compliance, leading to a penalty of Rs. 40,000 imposed on them. This incident points to potential issues regarding their operational management and adherence to regulatory compliance.
• Won Cases:
  Interestingly, while the builder has one case recorded as lost, they have not had any cases in which they emerged victorious. This could indicate a pattern of struggling against legal challenges, which is a crucial factor for buyers to consider.

Patterns in Cases

Cases Lost:

The single case lost highlights a failure to comply with important regulatory submissions, specifically related to financial reporting. This suggests a lack of organizational diligence within the builder’s operational framework, which is a significant fault line in real estate dealings.

Cases Won:

SHRI OM DEVELOPERS does not have any cases they have successfully won. This creates a troubling absence of demonstrated legal resilience that could be alarming for potential buyers.

Conclusion

Overall, SHRI OM DEVELOPERS presents a mixed impression based on their handling of legal matters. With only one complaint and a single loss, the absence of favorable outcomes in their cases raises flags regarding their operational integrity and commitment to compliance.

Tips for Potential Buyers

1. Due Diligence: Before investing, thoroughly research the builder’s legal history, including any complaints or cases. Confirm if they have addressed compliance issues satisfactorily.
2. Document Verification: Request all relevant documents pertaining to past projects, especially financial reports and audits.
3. Seek Reviews: Look for feedback from previous buyers on social platforms or real estate forums to gauge the builder’s reputation.

General Tips for Selecting Any Builder

1. Check Their Track Record: Understand their history with previous projects and any legal issues they might have faced.
2. Warranty and Support: Ensure the builder offers warranties and support post-purchase for any issues that may arise.
3. Transparency: A trustworthy builder will be transparent regarding project timelines, costs, and any potential risks.

In summary, while SHRI OM DEVELOPERS may have projects in Gujarat, potential buyers should proceed with caution, taking into account the legal challenges the builder has faced. Proper due diligence is essential to ensure a risk-free investment.

Analysis of the cases filed against Shri Om Developers, where the builder lost, reveals several key themes across the disputes. The cases can be broadly categorized into regulatory compliance disputes and delays in submission of necessary documentation.

In terms of regulatory compliance, the builder faced challenges that revolve around their obligation to adhere to legal requirements, particularly concerning project documentation. One notable case involved the builder's failure to submit the annual audit report (Form-5) within the stipulated time frame. This highlights a pattern where the builder faced scrutiny and penalties due to non-compliance with critical regulatory deadlines.

Delays in submission of documentation stood out as another significant theme. In the case mentioned, the builder claimed to have submitted the annual audit report, yet it was not accepted by the appellant, leading to a penalty. This indicates a troubling trend where either the builder's operational processes are insufficient for timely submissions or there exists a lack of clarity in communication with regulatory bodies—both of which could stem from inadequate organizational practices.

The common reasons for litigation in these cases primarily revolved around the builder's failure to meet regulatory standards and deadlines. People brought cases to court largely due to the builder's non-compliance, which resulted in imposed penalties. The builder's defense often revolved around claims of having fulfilled their obligations, yet the outcomes suggest a consistent misunderstanding of regulatory requirements or failure to execute compliance adequately.

The conclusion drawn from these outcomes is that Shri Om Developers faced losses due to insufficient adherence to regulations and a lack of timely fulfillment of documentary obligations. These patterns should raise concerns for potential buyers regarding the builder's reliability and adherence to standards throughout their projects.