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

> NCLAT judgment dated 2024-01-25. Citation: TCN-2024-NCLAT-00666. This case involves an appeal preferred by Gloster Cables Limited against an order by the…

- **Court:** NCLAT
- **Order date:** 25 Jan 2024
- **Citation:** TCN-2024-NCLAT-00666
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/gloster-cables-ltd-vs-fort-gloster-industries-ltd-ors-60ff8524

## Summary

### Background

This case involves an appeal 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). The dispute centers on a technical collaboration agreement and subsequent trademark agreements between Gloster Cables and Fort Gloster Industries, including the assignment of the 'Gloster' trademark. The Adjudicating Authority dismissed Gloster Cables' application seeking clarification that the trademark should not be included as an asset of the Corporate Debtor, leading to the present appeal.

## Facts

Crest Cables Private Limited was incorporated in 1995 by the Modi and Rathi families. It was later renamed Gloster Cables Limited in 2004 after the Bangur Group became an investor. Fort Gloster Industries Limited (Corporate Debtor) was incorporated in 1890 and is in the business of manufacturing power cables, owning the trademark 'GLOSTER'. A former employee of the Corporate Debtor filed an application under Section 9 of the IBC, leading to the initiation of CIRP on 09.08.2018. The Resolution Professional (RP) filed an application seeking approval of the resolution plan submitted by Gloster Limited, which was approved by the CoC with a 73.21% vote share. Gloster Cables Limited filed an application before the Adjudicating Authority seeking to exclude the 'Gloster'

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## Issues and analysis

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

**Ratio:** Section 60(5) of the IBC provides the Adjudicating Authority with the power to entertain

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**Reasoning:** The court reasoned that the insolvency resolution is in question, as the resolution plan,

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**Interpretation:** This section grants the Adjudicating Authority broad powers to decide on

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**Application:** The court applied this principle to the present case, holding that the issue of

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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 known as…
- **2004-01-01 — Name Cha…**: Crest Cables Pvt. Ltd. was…

## 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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