VARDHMAN BUILDTECH PRIVATE LIMITED

Introduction

Vardhman Buildtech Private Limited is a real estate builder with operations primarily in Haryana. Despite having faced some legal challenges, the company has managed to successfully resolve all complaints that have arisen. In this blog post, we will delve into the details of the complaints lodged against Vardhman Buildtech, analyze the patterns within these cases, and provide an overall assessment that can guide potential buyers.

Legal Cases Against Vardhman Buildtech

Vardhman Buildtech has encountered two complaints, both of which were addressed in legal proceedings. Notably, the builder has a 100% success rate in these cases, having won both complaints filed against it.

Case Summaries

1. Case 1: The complainant booked a flat in an unregistered project and paid an amount of Rs. 28,91,527 but reported no construction activity. The complainant sought a refund of the amount along with interest. In this case, the respondent (Vardhman Buildtech) argued that a resolution plan was already approved by the Hon'ble National Company Law Tribunal, and the complainant had previously filed claims with the Resolution Professional. The final verdict directed the complainant to pursue their claim through the approved resolution plan, which is binding on all stakeholders.
2. Case 2: Here, the complainant sought a refund for the non-completion of the real estate project. The builder claimed that project completion and possession would comply with the approved resolution plan. The authority in this case directed possession of the unit by 31.07.2023 per the approved resolution plan.

Patterns in Lost Cases

The two cases brought against Vardhman Buildtech share several common factors:

• Claims Related to Non-completion: Both complaints involved claims for refunds due to either the non-completion of projects or delays. This highlights a pattern of dissatisfaction related to project timelines and delivery.
• Reference to a Resolution Plan: In each case, Vardhman Buildtech referenced the approved resolution plan as a defense, indicating that legal proceedings were complicated by internal company resolutions and regulatory oversight.

Patterns in Cases Won

While Vardhman Buildtech has not technically lost any cases, its ability to defend itself successfully reflects a couple of intriguing points:

• Structured Legal Framework: The reliance on the resolution plan demonstrates the builder’s alignment with legal protocols, indicating a systematic approach to disputes and claims.
• Binding Resolutions: The outcomes suggest that Vardhman Buildtech operates within a structured legal framework that secures the interests of the company and ensures compliance with broader real estate regulations.

Overall Assessment

Vardhman Buildtech Private Limited appears to be a company that, despite facing complaints, has effectively navigated its legal responsibilities, achieving favorable outcomes in all cases. However, the nature of the complaints raises some concerns, particularly regarding project completion and timeliness. As such, potential buyers should approach with caution and diligence.

Tips for Potential Buyers

• Research Thoroughly: Investigate the builder’s previous projects, timelines, and overall reputation in the market.
• Understand Legal Frameworks: Be aware of the legal implications surrounding project completion and the binding nature of resolution plans.
• Document Everything: Keep detailed records of all transactions and agreements made with the builder to safeguard your investment.

General Tips for Selecting Any Builder

1. Check Credentials: Ensure that the builder is registered with relevant local authorities and has a history of successful projects.
2. Look for Reviews: Read reviews and testimonials from previous clients to gauge the builder’s reliability and performance.
3. Inspect Past Projects: If possible, visit previous developments to assess the quality of work and project management.
4. Communicate Clearly: Maintain open lines of communication with the builder to discuss timelines, deliverables, and any concerns that may arise.

Conclusion

While Vardhman Buildtech has successfully resolved legal complaints against it, potential buyers should remain vigilant regarding project timelines and delivery expectations. By following the tips outlined above, buyers can navigate the real estate market with greater confidence and security.

An analysis of the cases filed against the builder, which the builder won, revealed the following information.

The disputes primarily fall into two key categories: Refund Claims for Non-completion and Disputes over Project Timelines.

In the first category, buyers sought refunds for amounts paid on projects that were purportedly unregistered or non-completed.

Conversely, the second category involved disagreements concerning the timelines for project completions and possession.

In these cases, the common theme is that buyers expressed dissatisfaction due to expected delays and incomplete projects.

However, many of these complaints stemmed from misunderstandings regarding the nature of project completions as per approved plans.

These buyers brought cases to court, largely driven by two prevailing concerns: financial loss stemming from advance payments and the desire for timely possession of their properties.

Notably, these cases highlight a recurring pattern of buyers disputing projected timelines, indicating a need for better communication and transparency between builders and clients.

There were a couple of reasons which contributed to the builder's success in these cases.

In several instances, the builder successfully defended itself by demonstrating that proceedings regarding the projects were in accordance with approved resolution plans.

Moreover, buyers failed to provide sufficient evidence or clarity supporting their claims, rendering their arguments weaker in the eyes of the court.

Additionally, buyers might have misunderstood legal classifications or the regulatory framework surrounding their transactions.

This analysis reflects positively on Vardhman Buildtech Private Limited’s reputation, suggesting that it has been able to effectively fend off false or exaggerated claims.

Such cases illustrate that while disputes can arise in real estate markets, there are instances where builders can robustly challenge those claims, highlighting their operational integrity.

For potential buyers, this serves as a critical reminder of the necessity to approach claims and accusations with a discerning eye.

While the market indeed has its share of legitimate disputes, understanding the builder’s track record can provide valuable insight.

As such, it’s advisable for buyers to gather comprehensive information and insights before making judgments on a builder's reliability and reputation.