The National Company Law Appellate Tribunal (NCLAT) has extended the interim stay on the Corporate Insolvency Resolution Process (CIRP) for The Hi-Tech Gears Ltd . The tribunal, in its order dated August 17, 2026, directed that the interim stay granted vide its earlier order dated September 3, 2024, shall continue.

The NCLAT principal bench in New Delhi listed the appeal for the next hearing on September 25, 2026. The matter was originally scheduled for hearing on August 17, 2026, but could not be taken up due to paucity of time.

Regulatory Context

The order pertains to Comp. App. (AT) (Ins) No. 1734 of 2024 and I.A. No. 2735 of 2025. The appellant is Naveen Jain, Company Secretary and shareholder of The Hi-Tech Gears Ltd., while the respondents are Happy Forgings Ltd. and another.

The tribunal bench consisted of Justice Sharad Kumar Sharma (Judicial Member), Arun Baroka (Technical Member), and Indevar Pandey (Technical Member). The interim order was passed in hybrid mode.

What the Numbers Show

The continuation of the interim stay implies that the insolvency proceedings remain suspended until further orders from the NCLAT. This maintains the status quo regarding the company’s corporate actions and operational control during the pendency of the appeal.

The Hi-Tech Gears Ltd has scheduled its 40th Annual General Meeting (AGM) for September 22, 2026. The Board of Directors has recommended a final dividend of ₹4 per equity share for FY26.

The meeting will be held at the company's registered office in IMT Manesar, Gurugram, with facilities for attendance via Video Conferencing (VC) or Other Audio-Visual Means (OAVM). The filing was signed by Naveen Jain, Company Secretary and Compliance Officer, on August 21, 2026.

Dividend Proposal

The Board recommends a final dividend of 40%, amounting to ₹4.00 per equity share with a face value of ₹10 each. Shareholders whose names appear in the Register of Members as of September 15, 2026, will be eligible for the payout. Payment will be made electronically to members who have updated their bank details.

Key Resolutions

The AGM agenda includes ordinary business items such as the adoption of audited standalone and consolidated financial statements for FY26. Special business items focus on board appointments and auditor remuneration.

Mr. Rajiv Batra is eligible for re-appointment as an Independent Director for a term commencing November 2, 2026, to November 1, 2031. A special resolution is also sought to continue his directorship notwithstanding that he will attain the age of 75 during his tenure.

Similarly, approval is required for the continuation of Mr. Bidadi Anjani Kumar as a Non-Executive Non-Independent Director beyond the age of 75, which he will attain on March 25, 2027. Mr. Kawal Jain, who attended all six board meetings in FY26, offers himself for re-appointment.

E-Voting Details

Remote e-voting will be available from September 19, 2026, at 9:00 am to September 21, 2026, at 5:00 pm. The record date for voting rights is September 15, 2026. NSDL will facilitate the e-voting process for both demat and physical shareholders.