https://www.taxtmi.com/caselaws?id=380788 Amounts due to workmen towards provident fund, pension fund and gratuity fund are statutorily excluded from the liquidation estate under the Insolvency and Bankruptcy Code. Because these sums do not form part of the liquidation estate, they cannot be brought into the distribution waterfall under Section 53. The reference to Section 326 of the Companies Act, 2013 and the explanation to Section 53 does not override the express exclusion in Section 36(4)(iii). The position treated these funds as assets of the workmen, not assets available for liquidation distribution, and the application was allowed in favour of the workmen. en-us Tue, 19 Mar 2019 00:00:00 +0530 Sat, 31 Aug 2019 16:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380788 Amounts due to workmen towards provident fund, pension fund and gratuity fund are statutorily excluded from the liquidation estate under the Insolvency and Bankruptcy Code. Because these sums do not form part of the liquidation estate, they cannot be brought into the distribution waterfall under Section 53. The reference to Section 326 of the Companies Act, 2013 and the explanation to Section 53 does not override the express exclusion in Section 36(4)(iii). The position treated these funds as assets of the workmen, not assets available for liquidation distribution, and the application was allowed in favour of the workmen. Case-Laws Insolvency and Bankruptcy Tue, 19 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380788