The NCLAT has directed IBBI to reconsider the cancellation of insolvency professional Deepak Kumar Goyal’s registration.
The National Company Law Appellate Tribunal (NCLAT) upheld two regulatory violations against Goyal but ruled that cancellation of his registration was disproportionate. The tribunal directed the Insolvency and Bankruptcy Board of India (IBBI) to reconsider the penalty within 30 days of receiving its order.
Why Was Goyal’s Registration Cancelled?
Goyal was appointed on July 4, 2024, as the authorised representative of homebuyers in the corporate insolvency resolution process of Revital Realty Private Limited. The group expanded from approximately 573 to 1,428 homebuyers and controlled nearly 91% of the committee of…