YOGI STOCKBUILD POWER PRIVATE LIMITED
- No of Complaints: 1
- States (Active in): Gujarat
| CIN | Not Available |
|---|---|
| Year Established | Not Available |
| Address | Not Available |
| Company Status | Not Available |
Introduction
In the competitive world of real estate, the reputation of a builder can significantly impact a buyer's decision. Today, we take a closer look at Yogi Stockbuild Power Private Limited, a company based in Gujarat. With a limited number of complaints and a troubling legal history, it’s essential to assess their standing before committing to a purchase.
Overview of Legal Cases
Yogi Stockbuild Power Private Limited has faced a total of 1 complaint, resulting in 0 cases won and 1 case lost. The case particulars shed light on the builder's challenges in compliance and operational practices.
Case Summary
The sole case against Yogi Stockbuild Power Private Limited involved penalties imposed due to their failure to file final reports on project completion. The verdict mandated penalties that ranged from ₹30,000 to ₹4,00,000, indicating non-compliance with regulatory requirements, which can raise red flags for potential buyers.
Patterns in Legal Cases
Cases Lost
The one case that the builder lost underscores a significant issue related to regulatory compliance. The inability to provide necessary documentation and reports reflects not only a lack of diligence on the builder's part but also potential delays or problems that could impact future projects and buyers.
Cases Won
Interestingly, there are no cases won by the builder that could showcase their capability or success in legal disputes. The absence of successful outcomes may suggest that their legal strategies or operational practices need improvement to foster better relationships with clients and authorities.
Conclusion
In summary, Yogi Stockbuild Power Private Limited's reputation is marred by their legal challenges, particularly surrounding compliance issues that have led to penalties. With only one complaint registered and no victories in legal disputes, potential buyers should approach with caution.
Tips for Potential Buyers
- Research Thoroughly: Before making a purchase, conduct extensive research on the builder’s past projects and any legal issues. This can provide insights into their reliability and trustworthiness.
- Seek Feedback: Engage with previous clients to hear about their experiences with the builder. This first-hand information can be invaluable.
- Review Documentation: Ensure that all necessary documents, including completion reports, are available and that the builder adheres to regulatory norms.
General Tips for Buyers Selecting Any Builder
- Check Reputation: Look for builders with a solid reputation within the community. Reviews and ratings from previous clients can guide your decision.
- Scrutinize Contracts: Always read the terms and conditions of contracts carefully. Make sure you understand your rights and obligations.
- Conduct Site Visits: If possible, visit existing projects by the builder to assess the quality and craftsmanship before making your decision.
Ultimately, while Yogi Stockbuild Power Private Limited has made strides in the construction sector, the current legal history suggests that prospective buyers should remain vigilant and informed before entering into any agreements.
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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 Yogi Stockbuild Power Private Limited, where the builder lost, reveals several key themes across the disputes. The cases can be broadly categorized into regulatory compliance issues and project delay penalties.
The primary theme of Regulatory Compliance Issues encompasses the builder's failure to adhere to legal requirements, particularly concerning project reporting. In one notable case, the promoters were ordered to pay penalties ranging from ₹30,000 to ₹4,00,000 for not filing final reports on project completion. This highlights a significant pattern wherein the builder faced legal consequences due to insufficient documentation and non-compliance with reporting obligations.
The theme of Project Delay Penalties suggests that many cases likely revolved around delays in project completion, which could have stemmed from various factors, including mismanagement, unforeseen circumstances, or disputes over project classifications. The penalties imposed indicate a consistent trend where the builder was held accountable for delays, which raises questions about their project management practices and adherence to timelines.
Common reasons for the litigation include contesting the imposed penalties, with the builder likely arguing that the delays were beyond their control or that the penalties were excessive. There may have also been disputes over project classifications or conversions, which could have affected the builder's obligations and the plaintiffs' expectations.
The builder lost these cases primarily due to their failure to comply with regulatory requirements, specifically regarding project reporting and timely communication of project statuses. The significant penalties suggest that the builder did not meet the necessary standards, which reflects a broader issue of insufficient evidence or understanding of their obligations. Overall, these cases underline the importance of transparency, compliance, and effective project management in the real estate sector.