The Supreme Court has held that the National Company Law Tribunal (NCLT) cannot assume jurisdiction under Section 60(5)(c) of the Insolvency and Bankruptcy Code (IBC) to declare the title of a disputed asset in favor of a Successful Resolution Applicant (SRA) when the Resolution Plan itself acknowledges the existence of rival claims.
The Bench of Justice J.B. Pardiwala and Justice K.V. Viswanathan, in a judgment delivered on January 22, 2026, set aside the findings of both the NCLT and the National Company Law Appellate Tribunal (NCLAT) regarding the ownership of the trademark “Gloster.” The Court clarified that the issue of title, in this specific factual matrix, was not a matter “arising out of or in relation to the…