September 4 2018
Parsvnath Developers has a long history of service and providing the luxurious, budget and quality commercial and residential properties. They operate attractive projects in different countries of India and have satisfied customers so far. However, due to the financial crisis, the company delayed the possession of some of the ongoing projects. This has generated several opportunities for the rivals to defame the brand image. They have spread negative news and launched complaints as a conspiracy. This tough time has also led the Parsvnath court case. But they are still in the court and have to base for the allegations.
Even if you have come across such news or information, it is best to make a research and understand the real facts behind the negative information. The company also said that they will without any delay handover the flats in Ghaziabad to the respective owners within a year. The court has also provided tome to the developer to hand over the flats in Panchkula, Haryana and in other projects across the country. Hence, there is nothing to worry about if you are an existing client or deciding to invest in the projects from Parsvnath developer. You can completely trust the brand considering its history and level of existing customer satisfaction.
The truth of the allegations in Parsvnath developers case is best revealed by the recent activities. The Security Appellate Tribunal has lifted the trading restrictions on the shares of the company. This shows that the court case has no evidence to prove the allegations. This is a great relief to the investors who have already invested in different projects from Parsvnath. The company has passed the screening test from the Serious Fraud Investigation Office (SFIO) regarding all the allegations. With this, the company is ready for the normal trading of the stocks and is expected to recover from the financial crisis soon.
In addition, the Competition Commission has recently rejected the allegation complaint against the Parsvnath developers. The allegation was to use the unfair terms and conditions in the sales agreement for the flats in Gurgaon, Haryana. It was also alleged that the brand also exercised its dominant position to get the agreement signed from individual buyers and also abused the same to put grossly unreasonable conditions and unilateral in the final agreement for the sales of flats. The security firm also noticed that there are several developers who follow the same trend in the agreement and have a close competitive constraint with Parsvnath Developers.
The presence of such competitors reveals the fact that buyers have different options available in the market. Such competitors are likely to get benefitted if the brand image of Parsvnath is defamed. This speaks a lot about the conspiracy created by these developers to gain a competitive advantage in the industry. Thus, you should know how to identify the fake court case and news about the developer. It is also good to contact Parsvnath directly to understand the issues and allegation better. You can also gather the true information about the cases and complaints from the reliable sources.
This clears that all such Parsvnath complaints are just to spread the negativity about the brand and gain competitive benefits. Adding to the statement, this commission also said that after a complete analysis of the information, there are no facts about the involvement of Parsvnath in any anti-competitive agreement. The company has not violated either Section 3 or 4 of the Act. Hence, make your own research before you believe the negative news floating in the market.
We know that competition also comes up with a fair war in the market. However, most of the competitors do not hesitate to use unfair means and file for allegations. This is just to attract prospective investors into the market. However, as an investor, you should research to find the best option in the real estate for your dream home or commercial building.