Admission of claim by resolution professional constitutes valid acknowledgment of debt

Shankar Khandelwal Vs Omkara Asset Reconstruction Private Limited (NCLAT Delhi) NCLAT Delhi held that the admission of the Claim by the Resolution Professional in the first CIRP against the Corporate Debtor constituted a valid acknowledgement. Accordingly, order of adjudicating authority confirmed and appeals dismissed. Facts- These appeals are preferred by the erstwhile director of the Corporate Debtor challenging the Order of the Adjudicating Authority (NCLT), Jaipur, dated 22.01.2025 in C.P IB 94/7/JPR/2024, and C.P.93/7/JPR/2024 admitting two independent petitions for initiating CIRP IBC ...