The Supreme Court of India, in its judgment dated April 29, 2026, in Shankar Khandelwal v. Omkara Asset Reconstruction Pvt. Ltd. & Anr. [(2026) INSC 429], delivered a significant ruling on the interplay between the Insolvency and Bankruptcy Code, 2016 and the Limitation Act, 1963, specifically addressing whether the admission of a claim by an Interim Resolution Professional constitutes an acknowledgment of liability under Section 18 of the Limitation Act. The appeals, filed under Section 62 of the Code, were directed against the judgment dated October 15, 2025, passed by the National Company Law Appellate Tribunal, whereby the order dated January 22, 2025, of the National Company Law Tribunal admitting two separate petitions under…
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