Interview Process was pretty good and thorough. All questions and clarifications were nicely answered by the panel. A job was offered with a clear joining date. A day before the joining date, I called up HR for some clarifications and was told that the project has been delayed and therefore not to join "tomorrow". The next date of joining will be in another 15 days. When I asked her to capture this in an email to me, I was told yes. However, I never received that email.
I had even rejected many interview calls assuming this was a valid offer. Overall, HR is highly unreliable. Join at your own risk!
Declining of an offer from the company's perspective is entirely fine as long as its communicated to the offered candidate. However, keeping the candidate in dark and then spilling a surprise at the last moment doesn't give a good image at all of the company. Hope this acts as a eye opener.