NCLT Orders Liquidation of Cyient's Joint Venture Infotech HAL Limited
The National Company Law Tribunal has formally ordered the liquidation of Infotech HAL Limited, a joint venture between Cyient and HAL, following approval by the Committee of Creditors. The company has been non-operational for three years with total admitted claims of ₹1,15,18,961 and current assets primarily consisting of bank balance and fixed deposits insufficient for business revival.
*this image is generated using AI for illustrative purposes only.
Cyient Limited has informed stock exchanges about the commencement of liquidation proceedings for its joint venture company, Infotech HAL Limited. The National Company Law Tribunal (NCLT), Bengaluru Bench has formally admitted the liquidation application and appointed Mr. Vasudevan Gopu as the liquidator, marking a significant corporate development for the technology services company.
NCLT Admits Liquidation Application
The Hon'ble NCLT has admitted Interlocutory Application No. (Liq.) 01/2026 in petition CP (IB) No. 99/BB/2024 filed by Infotech HAL Limited under Section 33(2) & 34(1) of the Insolvency and Bankruptcy Code, 2016. The tribunal's decision follows previous disclosures made by Cyient on 20 March 2024 and 28 August 2025 regarding the joint venture.
| Parameter: | Details |
|---|---|
| Joint Venture Structure: | 50:50 partnership between Cyient and HAL |
| Liquidator Appointed: | Mr. Vasudevan Gopu |
| NCLT Order Date: | 27 February 2026 |
| Application Number: | (Liq.) 01/2026 in petition CP (IB) No. 99/BB/2024 |
| Order Receipt Date: | 3 March 2026 |
Committee of Creditors Approves Liquidation
The Committee of Creditors (CoC) passed the resolution approving liquidation of the company with 78.70% of votes in favour. The CoC determined that Infotech HAL Limited has been non-operational for the past three years and, being a service-based entity, currently has no employees or active business operations. The only significant assets available are bank balance and fixed deposits, with no substantial tangible or operational assets capable of supporting revival as a going concern.
| Financial Details: | Amount (₹) |
|---|---|
| Total Claims Admitted: | 1,15,18,961 |
| CIRP Expenses Paid: | 4,50,561 |
| Current Bank Balance: | 12,43,854.93 |
| Estimated Liquidation Cost: | 3,56,000 |
| Liquidator Remuneration: | 2,00,000 |
Major Creditors and Liquidation Process
The largest creditor is the Assistant Commissioner of Central Tax, South Division-08, Bengaluru South Commissionerate, holding 64.41% of the voting share with a claim of ₹74,18,868. Other significant creditors include All Time Support (10.42%) and Employees' Provident Fund Organization (11.80%).
The NCLT has ordered the commencement of the liquidation process in accordance with the provisions of the Insolvency and Bankruptcy Code, 2016. The liquidator is required to make a public announcement within five days and submit a preliminary report within 75 days of commencement of liquidation.
Regulatory Compliance and Disclosure
Cyient received the NCLT order on 3 March 2026 and disclosed the information to both BSE Limited and National Stock Exchange of India Limited on 6 March 2026. The disclosure was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, ensuring compliance with mandatory reporting requirements for material events affecting listed companies.
The communication was signed by Ravi Kumar Nukala, Deputy Company Secretary of Cyient Limited, emphasizing the company's commitment to transparent corporate governance and timely disclosure of material developments to stakeholders and regulatory authorities.
Historical Stock Returns for Cyient
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -3.79% | -8.55% | -15.78% | -32.93% | -39.70% | +20.60% |
Create Custom Screeners 
Access 200+ Pre-built Filters 
Use 50+ Readymade Screener 
