https://www.taxtmi.com/caselaws?id=799823 ESI contributions falling within section 40(4) of the Employees' State Insurance Act, including employee amounts retained for statutory benefits, constitute trust assets and third-party property. Section 36(4)(a)(i) of the Insolvency and Bankruptcy Code excludes those assets from a corporate debtor's liquidation estate. Their filing through Form B does not change their substantive character or prevent reliance on that exclusion. The absence of an express ESI reference in section 36(4)(a)(iii) does not limit the separate trust-asset exclusion. Qualifying contributions must be identified from statutory records and the relevant contribution period, rather than distributed under the section 53 waterfall. en-us Fri, 25 Sep 2026 00:00:00 +0530 Mon, 28 Sep 2026 08:12:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799823 ESI contributions falling within section 40(4) of the Employees' State Insurance Act, including employee amounts retained for statutory benefits, constitute trust assets and third-party property. Section 36(4)(a)(i) of the Insolvency and Bankruptcy Code excludes those assets from a corporate debtor's liquidation estate. Their filing through Form B does not change their substantive character or prevent reliance on that exclusion. The absence of an express ESI reference in section 36(4)(a)(iii) does not limit the separate trust-asset exclusion. Qualifying contributions must be identified from statutory records and the relevant contribution period, rather than distributed under the section 53 waterfall. Case-Laws IBC Fri, 25 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799823