HCL Infosystems Limited has secured a significant legal victory with the High Court of Himachal Pradesh allowing its subsidiary to withdraw ₹4.96 crores in a litigation matter involving the RAPDRP project. The interim court order provides relief to the company while ongoing legal proceedings continue.

Court Order Details

The High Court of Himachal Pradesh issued an interim order dated January 8, 2026, which was received by the company on January 12, 2026. The order allows HCL Infotech Limited, a wholly owned subsidiary of HCL Infosystems Limited, to withdraw the remaining amount deposited by Himachal Pradesh State Electricity Board (HPSEBL) for the RAPDRP project.

Litigation Background

The current proceedings stem from an appeal filed by HPSEBL against an arbitration award dated March 15, 2024, which was subsequently amended and corrected through an order dated May 9, 2024. The litigation involves the RAPDRP (Restructured Accelerated Power Development and Reforms Programme) project, where HPSEBL had deposited funds that are now subject to withdrawal by HCL Infosystems' subsidiary.

The company has been regularly updating stakeholders about this litigation matter, with previous disclosures made on March 18, 2024, May 13, 2024, and January 2, 2026, demonstrating ongoing compliance with regulatory requirements.

Financial and Legal Implications

The court's decision to allow withdrawal of ₹4.96 crores against a bank guarantee provides immediate liquidity benefits to HCL Infotech Limited while maintaining security for the opposing party. The amount includes both the principal deposit and accrued interest, representing the complete remaining funds deposited by HPSEBL.

Regulatory Compliance

HCL Infosystems Limited disclosed this development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure follows the company's commitment to keeping investors informed about material developments in ongoing litigation matters.

The company noted that both parties retain the right to file appeals against the High Court's interim order, indicating that the litigation may continue through higher judicial forums. This legal development represents a positive interim outcome for HCL Infosystems while the broader dispute resolution process remains ongoing.

HCL Infosystems Limited has completed the allotment of 10,00,000 unsecured non-convertible debentures worth ₹100 crores to HCL Capital Private Limited through private placement on January 6, 2026. The company informed the stock exchanges about this development in compliance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Debenture Allotment Details

The debenture issuance represents a significant fundraising initiative by HCL Infosystems Limited. The following table outlines the key parameters of the allotment:

Terms and Conditions

The debentures carry specific terms that define their structure and repayment mechanism. The instruments offer an interest rate of 0.001% per annum with quarterly payment schedule. The maximum tenure extends to 10 years from the date of allotment, with maturity scheduled for January 5, 2036.

Regulatory Compliance

The allotment follows HCL Infosystems' earlier disclosure dated November 6, 2025, and complies with multiple SEBI regulations and circulars. The company has provided comprehensive details as required under SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, along with specific circulars issued in 2023 and 2024.

The debentures are unsecured in nature, meaning no charge or security has been created over the company's assets. The instruments do not carry any special rights, interests, or privileges, and redemption may occur either out of profits or through fresh issue as determined by the company.

Key Features

The non-convertible debentures offer flexibility in redemption terms, allowing for early redemption upon mutual agreement between HCL Infosystems Limited and HCL Capital Private Limited. The quarterly interest payment structure provides regular returns to the allottee throughout the tenure of the instruments.

Company Secretary and Compliance Officer Twinkle Monga signed the disclosure document on behalf of HCL Infosystems Limited, ensuring proper corporate governance and regulatory compliance in the allotment process.