| CIN | Not Available |
|---|---|
| Year Established | Not Available |
| Address | Not Available |
| Company Status | Not Available |
Overall Case Outcomes
Understanding The Indian Overseas Bank: Legal Insights and Buyer Considerations
When it comes to real estate development, ensuring that your builder is reputable and reliable is paramount. In this post, we will delve into the legal challenges faced by The Indian Overseas Bank, based on a review of their complaint history.
Overview of The Indian Overseas Bank
The Indian Overseas Bank has been involved in three legal cases concerning property projects, all of which have resulted in losses for the builder. These cases predominantly span across projects in the state of Rajasthan. The bank has faced significant complaints, with details highlighting unfinished projects, delayed possession, and refund claims.
Legal Case Details
Cases Lost by The Indian Overseas Bank
- Case Regarding Refund with Interest: The complainant alleged that the bank did not comply with a previous order directing them to refund ₹2.54 lakh with interest. In this instance, the authority …
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 several key themes across the complaints raised by homebuyers. The cases can be broadly categorized into three types: Delayed Possession Claims, Refund and Compensation Disputes, and Non-Compliance with Legal Orders.
The majority of the complaints fell under the Delayed Possession Claims theme. In these cases, buyers expressed dissatisfaction after paying substantial amounts for flats that were meant to be part of a project which had not started or completed. For instance, one complainant booked a flat for Rs. 27.16 lakh, paid Rs. 2.54 lakh, and yet faced a lack of progress on the project and a denial of possession. This indicates a systemic issue where buyers were left waiting for homes that were never delivered on time, leading to a breach of trust and contract by the builder.
Refund and Compensation Disputes emerged as another …
Individual case details available for subscribers.
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