NCLAT Rules NCLT Can Decide Trademark Issues in IBC Cases

Gloster Cables Ltd. Vs Fort Gloster Industries Ltd. & Ors. (NCLAT Delhi)

The National Company Law Appellate Tribunal (NCLAT) in the case of Gloster Cables Ltd. vs. Fort Gloster Industries Ltd. & Ors. has ruled on several significant points regarding trademark issues in the context of Insolvency and Bankruptcy Code (IBC) cases. Here’s a summary of the key points:

Background of the Case: The case involves a dispute over the ownership of the “GLOSTER” trademark between Gloster Cables Ltd. (Appellant) and Fort Gloster Industries Ltd. (Corporate Debtor).

Trademark Ownership: Gloster Cables Ltd. claimed ownership of the “GLOSTER” trademark based on various agreements and transactions between the parties. However, Fort Gloster Industries Ltd. contended that the trademark belonged to them.

IBC Proceedings: The dispute arose in the context of the Corporate Insolvency Resolution Process (CIRP) initiated against Fort Gloster Industries Ltd. under the IBC.

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