The band's drummer admitted that he was shocked when Katie White and Jules De Martino picked up a prize at the 2009 ceremony, triumphing in the best album category with their debut disc We Started Nothing.
Helders told Q magazine: "The Ivor Novello Awards used to feel like the most meaningful ones but I think they've been cheapened.
"I don't want to be horrible to The Ting Tings but they won it and it's supposed to be for songwriting. There's a lot better songwriting ability out there."
Arctic Monkeys won the same prize in 2007 for their own debut Whatever People Say I Am, That's What I'm Not.
The Sheffield band release their third album Humbug next month.