New Delhi, Jan. 24 -- The Supreme Court has held that the National Company Law Tribunal (NCLT), under Section 60(5) of the Insolvency and Bankruptcy Code (IBC), cannot decide disputed intellectual property claims unless they are directly and closely linked to the corporate insolvency resolution process (CIRP).

A Bench of Justices JB Pardiwala and KV Viswanathan reiterated that under Section 60(5)(c), the NCLT's jurisdiction is limited to disputes directly linked to insolvency, citing Gujarat Urja Vikas Nigam Ltd. v. Amit Gupta (2021) and warning against overstepping into matters outside the IBC's scope.

Background of the Case The dispute arose during FGIL's CIRP, with Gloster Limited as the successful resolution applicant. Gloster Cable...