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Claim Admission is not Debt Acknowledgement: Supreme Court on RP’s Role & Limitation under the IBC
Can admission of a claim by a Resolution Professional extend the limitation under section 18 of the Limitation Act? In Shankar Khandelwal v. Omkara ARC, the Supreme Court clarifies that claim admission during CIRP is merely a statutory verification exercise and does not amount to an acknowledgement of debt capable of extending limitation.
14 hours ago8 min read