Court’s decision
The Supreme Court of India partly allowed cross-appeals arising from insolvency proceedings of a corporate debtor and held that insolvency adjudicating authorities under the Insolvency and Bankruptcy Code cannot, in the guise of Section 60 jurisdiction, conclusively decide rival claims of title over a registered trademark. Setting aside the declaration that the trademark “Gloster” formed part of the corporate debtor’s assets, the Court ruled that such adjudication lay outside the permissible contours of insolvency jurisdiction — “Section 60 cannot be used as a shortcut to decide civil title disputes”; however, the Court affirmed that insolvency tribunals do have limited jurisdiction to entertain…