Argus Partners successfully represents the Resolution Professional of Riverbank Developers Private Limited before NCLT, Kolkata
We are pleased to share that Argus Partners has successfully advised and represented the Resolution Professional of Riverbank Developers Private Limited (“RDPL”) before the National Company Law Tribunal, Kolkata.
The Tribunal while dismissing a plea by the homebuyers seeking an addition of 8% interest on the amounts paid by them to RDPL, held that, since homebuyers/ allottees and the developer have agreed to a different rate or mechanism of compensation, granting additional interest at 8% p.a. under CIRP Regulation 16A(7) would amount to double counting of the same interest component and result in unjust enrichment.
The team at Argus Partners advising and representing the Resolution Professional of RDPL consisted of Pooja Chakrabarti (Partner) and Kiran Sharma (Principal Associate – Designate).
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