| CIN | U19121DL1998PTC093311 |
|---|---|
| Year Established | 20-Apr-98 |
| Address | Unit No. 302, third floor,D-mall, Plot No. A-1, Netaji Subhash Place Pitampura New Delhi North West DL 110034 IN |
| Company Status | Private |
Introduction
Victory Infraedge Private Limited is a residential and commercial real estate developer operating primarily in Haryana. While the promise of purchasing a new property can be exciting, potential investors should be well-informed about the challenges that have emerged from the builder's past legal interactions. In this blog post, we will analyze the complaints against Victory Infraedge, the outcomes of legal cases, and what this means for prospective buyers.
Performance Overview
Victory Infraedge has faced a total of 6 complaints to date. Alarmingly, the company has not won any cases; rather, it has lost all 6 cases that came before them. This situation is indicative of a troubling trend that potential buyers should take note of before making any purchasing decisions.
Legal Case Insights
Cases Won
The data suggests that the builder has not won any cases in the traditional sense. However, in several complaints, the appeals were dismissed as withdrawn due to amicable settlements. This indicates that while matters may have been settled outside of court, it raises questions about the initial circumstances that required legal intervention.
- In many instances, the complaints involved disputes over earnest money paid for commercial units without any formal agreement (BBA) being executed. The verdicts often favored the complainants, with directives for refunds of earnest money within a specified time frame.
- For example, in multiple cases, the complainants asserted they paid earnest money but claimed no further interaction occurred. The final verdicts uniformly resulted in orders to refund the earnest money.
Cases Lost
The common factor across the cases lost is the recurring theme of lack of proper documentation and contractual agreements. Most notably:
- Complainants reported the non-execution of the Builder Buyer Agreements (BBA), leading to complications concerning the applicability of the RERA Act.
- The absence of formal documentation is a significant pattern that resulted in unfavorable outcomes for Victory Infraedge, as it hindered their ability to defend against claims successfully.
Conclusion
Based on the data, it is evident that Victory Infraedge Private Limited has experienced a challenging legal environment, with a 100% loss rate in formal disputes. The common threads of disputes—lack of formal agreements, complaints regarding earnest money, and deficiencies in timely communication—paint a concerning picture about the builder's operational practices.
Tips for Potential Buyers
- Thoroughly Research the Builder: Before investing, examine customer reviews, legal cases, and any available ratings regarding the builder's reputation.
- Require Proper Documentation: Always insist on having a fully executed Builder Buyer Agreement (BBA). This is crucial to ensure RERA provisions apply to your transaction, providing legal protection.
- Maintain Communication: Verify the builder's responsiveness and willingness to address any concerns promptly.
- Seek Clarification on Earnings Money: Be sure to inquire about how earnest money is handled and request a clear refund policy in case of disputes.
General Tips for Buyers Selecting Any Builder
- Review Past Projects: Look at completed projects by the builder and assess quality, timing, and how issues were handled.
- Understand the Market: Get to know the local real estate market trends, which can provide context for the builder's business practices and pricing.
- Consult Professionals: Engage a real estate lawyer to review contracts and agreements before signing anything.
By adhering to these guidelines, buyers can ensure they are making informed choices when investing in real estate, especially with builders like Victory Infraedge Private Limited. Always prioritize due diligence to safeguard your financial and legal interests.
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Here you’ll find cases where others sued the builder, and the builder lost. We’ve included a simple summary and key takeaways from each case.
Analysis of the cases filed against Victory Infraedge Private Limited, where the builder lost, reveals several key themes and patterns. The primary disputes revolve around refunds of earnest money, the applicability of the RERA Act, and the lack of communication or execution of Building Buying Agreements (BBA) between the parties involved.
The cases often involve the complainant paying earnest money for commercial units, followed by a lack of further interaction or a failure to execute a BBA. This led to multiple complaints filed with the authority, where the builder was ultimately directed to refund the earnest money paid, emphasizing the need for clear communication and contractual agreements in real estate transactions.
A common reason for the complaints was the builder's failure to adhere to the expectations set after receiving earnest money. Parties brought cases to court primarily due to the builder’s inability to deliver on promises or provide updates on their investments. The RERA Act played a significant role in these disputes, with the builder occasionally claiming that the provisions of the Act were not applicable since no BBA was executed. However, the authority consistently ruled in favor of the complainants, indicating a legal obligation to refund payments when agreements are not honored or communicated.
The builder lost these cases chiefly due to insufficient evidence provided during the complaints. Often, the builder failed to supply necessary documents, such as copies of complaints or agreements, which hindered their defense. Additionally, the recurring failure to execute a BBA exposed the builder to the risk of disputes, as it left room for misunderstanding and unresolved expectations between parties. Overall, this highlights the importance for builders to ensure thorough communication and to establish clear contractual agreements before accepting payments in the real estate sector.
This table provides an analysis of individual cases that contributed to the summary above. Click on any row to expand and view complete details, and use the "Show More" button to load additional rows as needed.
| Case Number | State | Summary | Case Topic | Detailed Summary | Appellant Name | Respondent Name | Source |
|---|---|---|---|---|---|---|---|
| CR/2776/2019 | Haryana | Anil Aggarwal vs Victory Infraedge Private Limite… | ["Earnest Money Ref… | {"appellant_claim(in detail)": "The complainant p… | Anil Aggarwal | Victory Infraedge P… | https://haryanarera.gov.in/assistancecontrol/viewOrderPdf/MjgzMjY= |
| CR/2778/2019 | Haryana | Complainant Nandini Aggarwal vs Victory Infraedge… | ["Refund of Earnest… | {"appellant_claim": "Complainant paid earnest mon… | Nandini Aggarwal | Victory Infraedge P… | https://haryanarera.gov.in/assistancecontrol/viewOrderPdf/MjgzMjc= |
| CR/2779/2019 | Haryana | Complainant Ritu Agarwal vs Victory Infraedge Pri… | ["Refund of Earnest… | {"appellant_claim(in detail)": "The complainant p… | Ritu Agarwal | Victory Infraedge P… | https://haryanarera.gov.in/assistancecontrol/viewOrderPdf/MjgzMjg= |
| Appeal No. 270 of 2… | Haryana | The appeal was dismissed as withdrawn due to an a… | ["Amicable Settleme… | {"appellant_claim(in detail)": "Not provided", "r… | Ritu Agarwal | Victory Infraedge P… | https://haryanarera.gov.in/assistancecontrol/viewOrderPdf/ODg2NjQ= |
| Appeal No. 272 of 2… | Haryana | The appeal was dismissed as withdrawn due to an a… | ["Amicable Settleme… | {"appellant_claim": "Not provided", "respondent_c… | Nandani Agarwal | Victory Infraedge P… | https://haryanarera.gov.in/assistancecontrol/viewOrderPdf/ODg2NjU= |