# In the matter of SREI Multiple Asset Investment Trust Vision India Fund vs. Deccan Chronicle Marketers & Others Civil Appeal No(S).1706 of 2023]

> SC judgment dated 2023-03-17. Citation: TCN-2023-SC-00090. The case involves a challenge to the National Company Law Appellate Tribunal's (NCLAT) decision…

- **Court:** SC
- **Order date:** 17 Mar 2023
- **Citation:** TCN-2023-SC-00090
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/srei-multiple-asset-investment-trust-vision-india-fund-vs-deccan-chronicle-marke-8ce5d4cf

## Summary

### Background

The case involves a challenge to the National Company Law Appellate Tribunal's (NCLAT) decision regarding the ownership rights of trademarks of the Corporate Debtor, Deccan Chronicle Holdings Ltd. (DCHL). The Resolution Plan submitted by SREI Multiple Asset Investment Trust Vision India Fund was approved by the Committee of Creditors (CoC) with 81.39% voting share and conditionally approved by the National Company Law Tribunal (NCLT). A dispute arose regarding the ownership of the trademarks "Deccan Chronicle" and "Andhra Bhoomi". The NCLT declared that the Corporate Debtor had the exclusive right to use these trademarks, a decision challenged by the respondents. The NCLAT overturned the NCLT's decision, stating it amounted to a modification of the

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## Facts

The Corporate Insolvency Resolution Process (CIRP) was initiated against Deccan Chronicle Holdings Ltd. (DCHL) by Canara Bank under the Insolvency and Bankruptcy Code, 2016 (IBC). The Resolution Plan submitted by SREI Multiple Asset Investment Trust Vision India Fund was approved by the Committee of Creditors (CoC) with 81.39% voting share. The National Company Law Tribunal (NCLT) conditionally approved the Resolution Plan. A dispute arose regarding the ownership of the trademarks "Deccan Chronicle" and "Andhra Bhoomi". The NCLT declared that the Corporate Debtor had the exclusive right to use these trademarks. The National Company Law Appellate Tribunal (NCLAT) overturned the NCLT's decision, stating it amounted to a modification of the approved

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## Issues and analysis

### Issue 1: Whether the declaration by the NCLT regarding the ownership of trademarks by the Corporate Debtor …

**Ratio:** Once a Resolution Plan is approved by the CoC, no alterations or modifications are

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**Reasoning:** The NCLAT correctly held that the NCLT's declaration of ownership of the trademarks by

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**Interpretation:** The IBC does not allow for modifications to an approved Resolution Plan. The

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**Application:** In this case, the NCLT's declaration of ownership of the trademarks altered the

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## Parties

- **Judges:** Ajay Ra…; BELA M. T…
- **Appellants:** SREI MULTIPLE…
- **Respondents:** Deccan Chronicle…; DECCAN CHRONICLE…

## Timeline

- **2002-12-16 — Incorporation of…**: Deccan Chronicle Holdings…
- **2017-07-05 — CIRP Init…**: Corporate Insolvency Resolution Process (CIRP) was initiated against DCHL by Canara Bank,…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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