SC Landmark Judgment on IBC – IP Interface on title to the trademark of the corporate debtor
Powers of NCLT to declare on title of Trademark “Gloster”.
Trademark was the asset of the Corporate Debtor. Successful Resolution Applicant after taking over the Corporate Debtor becomes entitled to the said trademark “Gloster”.
While the application for approval of the resolution plan in respect of Corporate Debtor was pending, the respondent no.1 filed application under Section 60(5) of the IBC, for one of the reliefs to exclude the rights of the Trade Mark from the assets of the Corporate Debtor.
Adjudicating Authority could have, on the facts of the present case, in the process of adjudicating the application of GCL, recorded a finding that the trademark “Gloster” was an asset of the Corporate Debtor (FGIL) and consequently of the SRA (the appellant)?
We are concerned with whether in exercise of power under Section 60(5), Adjudicating Authority could have granted a declaration contrary to the terms of a plan approved by COC and also approved by it in those very terms.
Judgment dated 22.1.2026 of the Supreme Court in Civil Appeal NO.2996 of 2024 of Gloster Limited Vs. Gloster Cables Limited and others with connected civil appeal
