NCLAT Delhi: Trademark Hypothecated For Higher Amount And Assignment For Lower Amount Can't Be Sole Criteria To Treat It As 'Undervalued Transaction'
9 months, 3 weeks ago

NCLAT Delhi: Trademark Hypothecated For Higher Amount And Assignment For Lower Amount Can't Be Sole Criteria To Treat It As 'Undervalued Transaction'

Live Law  

The National Company Law Appellate Tribunal New Delhi, comprising Mr. Justice Rakesh Kumar Jain and Mr. Naresh Salecha held that the mere fact that the trademark was hypothecated for a higher amount and subsequently assigned for a lower amount would not be the sole criteria for deeming it an undervalued transaction. Further, it also prayed for an Order clarifying that with the approval of the Corporate Insolvency Resolution Process, no presumption may be drawn as to any authorization or right emerging from the aforesaid approval that gives the right to the Corporate Debtor, or the successful H1, to continue to use the Trade Mark 'Gloster' or the term "GLOSTER" as part of the Corporate Debtor's corporate name. NCLAT Verdict: The NCLAT Delhi allowed the application and held that the mere fact that the trademark was hypothecated for a higher amount and subsequently assigned for a lower amount would not be the sole criteria for deeming it an undervalued transaction. As a result, the mere fact that the trademark was hypothecated for a higher amount and subsequently assigned for a lower amount would not be the sole criteria for deeming it an undervalued transaction.

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History of this topic

NCLAT Delhi: NCLT Has Jurisdiction To Decide The Issue Of Trademark U/S 60(5)(c) Of IBC
10 months ago

NCLAT Delhi: NCLT Has Jurisdiction To Decide The Issue Of Trademark U/S 60(5)(c) Of IBC

Live Law  

The National Company Law Appellate Tribunal New Delhi, comprising Mr. Justice Rakesh Kumar Jain and Mr. Naresh Salecha held that NCLT has the jurisdiction to decide the whether Trademark forms part of the assets of the Corporate Debtor under Section 60 of Insolvency and Bankruptcy Code, 2016. NCLAT Verdict: The NCLAT Delhi allowed the application and held that NCLT has …

Claims Arising Out Of Grant Of Licence/Permission For Use Of Intellectual Property Rights Is An Operational Debt: NCLAT Delhi
2 years, 4 months ago

Claims Arising Out Of Grant Of Licence/Permission For Use Of Intellectual Property Rights Is An Operational Debt: NCLAT Delhi

Live Law  

The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Anant Bijay Singh and Ms. Shreesha Merla, while adjudicating an appeal filed in Somesh Choudhary v Knight Riders Sports Private Limited & Ors., has held that claims arising out of grant of an exclusive right and license to use intellectual property rights falls within the ambit of the definition …

"Unacceptable": Delhi High Court Imposes ₹1 Lakh Cost Each On Two Officials From Trade Marks Controller General's Office For Concealing Facts
2 years, 9 months ago

"Unacceptable": Delhi High Court Imposes ₹1 Lakh Cost Each On Two Officials From Trade Marks Controller General's Office For Concealing Facts

Live Law  

The Delhi High Court has imposed a cost of Rs. Insofar as registered trademarks qua which oppositions are filed are concerned, the Court said that where trademark registration certificates have been issued, the affidavit shall also inform the procedure in which the said certificates shall either be cancelled or recalled. The fact that this order is applicable to the filing …

"Unacceptable": Delhi High Court Imposes ₹1 Lakh Cost Each On Two Officials From Trade Marks Controller General's Office For Concealing Facts
2 years, 9 months ago

"Unacceptable": Delhi High Court Imposes ₹1 Lakh Cost Each On Two Officials From Trade Marks Controller General's Office For Concealing Facts

Live Law  

The Delhi High Court has imposed a cost of Rs. Insofar as registered trademarks qua which oppositions are filed are concerned, the Court said that where trademark registration certificates have been issued, the affidavit shall also inform the procedure in which the said certificates shall either be cancelled or recalled. The fact that this order is applicable to the filing …

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