Cyient Limited has announced that the National Company Law Tribunal (NCLT) Bengaluru has approved the liquidation of its joint venture company, Infotech HAL Limited. The tribunal admitted Interlocutory Application No. (Liq.) 01/2026 in petition CP (IB) No. 99/BB/2024 filed under Sections 33(2) and 34(1) of the Insolvency and Bankruptcy Code, 2016.

NCLT Order and Liquidator Appointment

The NCLT delivered its order on 27 February 2026, with Cyient receiving the order on 3 March 2026. The tribunal appointed Vasudevan Gopu as the liquidator for the liquidation process of Infotech HAL Limited, which is a 50:50 joint venture between Cyient and Hindustan Aeronautics Limited (HAL).

Committee of Creditors and Liquidation Approval

The Committee of Creditors (CoC) approved the liquidation with 78.70% votes in favor of the resolution. The committee was constituted with operational creditors as the financial creditor was a related party to the corporate debtor. The total admitted claims amount to INR 1,15,18,961.

Major Creditors in CoC

Financial Position and Liquidation Costs

The corporate debtor currently maintains a bank balance of INR 12,43,854.93 after paying CIRP expenses of INR 4,50,561. The CoC approved estimated liquidation expenses of INR 3,56,000 and fixed the liquidator's remuneration at INR 2,00,000, both to be met from the available bank balance.

Rationale for Liquidation

According to the disclosure, Infotech HAL Limited had been non-operational for the past three years with no active business operations or employees. As a service-based entity, it currently has no substantial tangible or operational assets capable of supporting revival as a going concern. The liquidation was proposed as a measure to mitigate further financial losses.

Impact on Cyient

Cyient has clarified that the liquidation will have no quantitative or qualitative effect on the listed entity. The company also stated there are no benefits to the promoter, promoter group, or group companies from this restructuring, and no changes are expected in the shareholding pattern of any entities.

The disclosure was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, following previous disclosures made on 20 March 2024, 28 August 2025, and 04 March 2026.

Cyient has successfully completed its strategic $85 million acquisition of a 74% majority stake in Kinetic Technologies, a global power semiconductor solutions provider. The company officially notified stock exchanges BSE and NSE about the completion of this transaction under Regulation 30 compliance requirements through its subsidiary Cyient Semiconductors Singapore Pte. Ltd.

Official Exchange Notification and Press Release

Cyient filed an official update with BSE Limited and National Stock Exchange of India Ltd confirming the successful completion of the acquisition. The notification, signed by Deputy Company Secretary Ravi Kumar Nukala, was accompanied by a comprehensive press release detailing the strategic significance of this investment.

Strategic Platform Integration

The acquisition marks a major step in Cyient Semiconductors' ambition to establish a scaled semiconductor platform anchored in India for global markets. Kinetic Technologies brings immediate commercial scale with over 100 silicon-proven intellectual properties and more than 250 high-volume custom and Application-Specific-Standard-Products (ASSPs) across power management, protection, display power, and interface solutions.

According to Suman Narayan, CEO of Cyient Semiconductors, the completion accelerates their ambition to build a globally competitive semiconductor innovation engine from India. The integration combines Cyient Semiconductors' spec-to-silicon engineering expertise with Kinetic Technologies' proven power management portfolio.

Operational Continuity and Leadership

Kinetic Technologies will continue operating under its current leadership with strategic oversight from Cyient Semiconductors. Kin Shum, CEO of Kinetic Technologies, emphasized that having Cyient Semiconductors as a strategic majority investor significantly strengthens their ability to scale globally while expanding engineering capacity and manufacturing capabilities in India.

Market Position and Future Outlook

The combined platform addresses the $44 billion global market opportunity in power and compute infrastructure. This partnership strengthens both companies' capacity to deliver advanced custom power solutions for the next wave of computing and industrial transformation while reinforcing India's momentum under the India Semiconductor Mission to become a global hub for semiconductor innovation.