# In the matter of Gloster Cables Ltd. vs. Fort Gloster Industries Ltd. & Ors.

> NCLAT judgment dated 2024-01-25. Citation: TCN-2024-NCLAT-00669. The appeal was preferred by Gloster Cables Limited against an order by the Adjudicating…

- **Court:** NCLAT
- **Order date:** 25 Jan 2024
- **Citation:** TCN-2024-NCLAT-00669
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/gloster-cables-ltd-vs-fort-gloster-industries-ltd-ors-0c4f9776

## Summary

### Background

The appeal was preferred by Gloster Cables Limited against an order by the Adjudicating Authority (National Company Law Tribunal, Kolkata Bench) regarding the ownership of the trademark 'Gloster' during the Corporate Insolvency Resolution Process (CIRP) of Fort Gloster Industries Limited (Corporate Debtor). Crest Cables Private Limited, later renamed Gloster Cables Limited, entered into technical collaboration agreements and trademark agreements with the Corporate Debtor. Disputes arose regarding the validity of these agreements and the ownership of the trademark, particularly concerning a supplemental trademark agreement dated 15.07.2008. The Adjudicating Authority dismissed an application filed by the Appellant seeking clarification that the trademark should not be

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## Facts

Crest Cables Private Limited, later renamed Gloster Cables Limited (Appellant), was incorporated in 1995. Fort Gloster Industries Limited (Corporate Debtor) was incorporated in 1890. A technical collaboration agreement was entered into between the Appellant and the Corporate Debtor on 02.05.1995, granting the Appellant the right to use the trademark. The Corporate Debtor was referred to BIFR in 2001, and BIFR directed the Corporate Debtor not to dispose of any fixed or current assets without consent. A subsequent technical collaboration agreement was entered into on 02.05.2003. The Appellant entered into a trademark agreement on 29.07.2004 with the Corporate Debtor. The Appellant granted a loan of Rs. 10 Crores to the Corporate Debtor on 10.11.2006. A supplemental

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority had the jurisdiction to adjudicate upon the title of the …

**Ratio:** Section 60(5) of the Insolvency and Bankruptcy Code (IBC) provides the Adjudicating

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**Reasoning:** The court reasoned that the issue of the trademark's ownership was directly related to

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**Interpretation:** Section 60(5)(c) of the Code would apply for the purpose of jurisdiction of the

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**Application:** The court applied the principle that the Adjudicating Authority has

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## Parties

- **Judges:** Rakesh Kuma…
- **Appellants:** Gloster Cables…
- **Respondents:** Fort Gloster…; Fort Gloster…

## Timeline

- **1995-01-01 — Incorporation of Crest…**: Crest Cables Private Limited, later renamed Gloster Cables Limited, was incorporated in…
- **1890-01-01 — Incorporation of Fort…**: Fort Gloster Industries Limited (Corporate Debtor) was incorporated in 1890 as a public…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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