Mr. Deepak Kumar Goyal, an Insolvency Professional (IP) and Authorised Representative (AR) for 1,428 homebuyers (91% CoC voting share) in the Corporate Insolvency Resolution Process (CIRP) of M/s. Revital Realty Private Limited, had his registration cancelled by the IBBI's Disciplinary Committee. The cancellation was based on two alleged contraventions: failure to maintain proper records/minutes of meetings with homebuyers (Regulation 16A(10)(i) of CIRP Regulations) and concurring to extensions for revised resolution plans without prior instructions from the homebuyers (Section 25A(3) of the Insolvency and Bankruptcy Code, 2016). The Appellant appealed this decision to the National Company Law Appellate Tribunal (NCLAT), arguing that the contraventions were technical,

Mr. Deepak Kumar Goyal, an Insolvency Professional (IP) and Authorised Representative (AR) for 1,428 homebuyers (91% CoC voting share) in the Corporate Insolvency Resolution Process (CIRP) of M/s. Revital Realty Private Limited, had his registration cancelled by the IBBI's Disciplinary Committee. The cancellation was based on two alleged contraventions: failure to maintain proper records/minutes of meetings with homebuyers (Regulation 16A(10)(i) of CIRP Regulations) and concurring to extensions for revised resolution plans without prior instructions from the homebuyers (Section 25A(3) of the Insolvency and Bankruptcy Code, 2016). The Appellant appealed this decision to the National Company Law Appellate Tribunal (NCLAT), arguing that the contraventions were technical,