https://www.taxtmi.com/caselaws?id=790734 Amounts payable to a sub-contractor under a back-to-back infrastructure contract were treated as the sub-contractor's beneficial entitlement where the corporate debtor retained only a margin and acted as a fiduciary conduit for the balance. On that basis, the withheld receivable was held outside the liquidation estate and not to be treated as the corporate debtor's own operational debt. The document also states that, where a project continues during CIRP, running-bill dues for that continuing work cannot be artificially split into pre-CIRP and post-CIRP components to deny payment or divert the claim into the liquidation waterfall. The withheld principal sum was directed to be released, with reduced interest awarded for the relevant period. en-us Mon, 27 Apr 2026 00:00:00 +0530 Wed, 29 Apr 2026 08:24:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790734 Amounts payable to a sub-contractor under a back-to-back infrastructure contract were treated as the sub-contractor's beneficial entitlement where the corporate debtor retained only a margin and acted as a fiduciary conduit for the balance. On that basis, the withheld receivable was held outside the liquidation estate and not to be treated as the corporate debtor's own operational debt. The document also states that, where a project continues during CIRP, running-bill dues for that continuing work cannot be artificially split into pre-CIRP and post-CIRP components to deny payment or divert the claim into the liquidation waterfall. The withheld principal sum was directed to be released, with reduced interest awarded for the relevant period. Case-Laws IBC Mon, 27 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790734