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, 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.

Liquidation Process Commences

The NCLT has ordered the commencement of the liquidation process for Infotech HAL Limited and appointed Mr. Vasudevan Gopu as the official liquidator. The liquidation proceedings will be conducted in accordance with the provisions of the Insolvency and Bankruptcy Code, 2016, which governs corporate insolvency resolution and liquidation processes in India.

Regulatory Compliance and Disclosure

Cyient received the NCLT order on 3 March 2026 and promptly disclosed the information to both BSE Limited and National Stock Exchange of India Limited on 4 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.

Cyient Limited has announced strategic leadership transitions to accelerate its next phase of organizational evolution. Effective April 1, 2026, Prabhakar Atla will transition from Chief Financial Officer to Chief Operating Officer, while Shrinivas Kulkarni has been appointed as the new Chief Financial Officer.

These appointments reflect Cyient's continued evolution toward a performance-driven operating model and its broader growth strategy aligned with the company's Embracing Intelligence way of working – integrating Human Knowledge, Domain Expertise, and Technology to maximize stakeholder value.

Leadership Transition Details

The board meeting held on March 3, 2026, approved these strategic appointments based on recommendations from the Leadership, Nomination and Remuneration Committee and the Audit Committee. The leadership changes are designed to support Cyient's AI-led growth trajectory and operational excellence agenda.

Prabhakar Atla's Transition to COO

Prabhakar Atla, currently serving as Chief Financial Officer, will assume the role of Chief Operating Officer. A Cyient veteran with more than two decades of leadership experience, Atla has played a pivotal role in strengthening the company's strategic direction and business resilience.

As COO, he will be responsible for scaling next-generation delivery models, developing future-ready talent, and enriching client experience through effective operating models. His focus will be on improving execution agility, driving operational scalability, and achieving excellence in customer-centric delivery.

Shrinivas Kulkarni Appointed as CFO

Shrinivas Kulkarni, who most recently served as CFO of Cyient DLM, will assume the role of Chief Financial Officer of Cyient Limited. Kulkarni has led multiple initiatives in the Cyient group over the last decade, driving financial discipline, operational efficiency, improved cash conversion, and margin expansion.

In his new role, he will be responsible for guiding Cyient's global financial strategy, managing investor relations, and overseeing business finance to support competitiveness and industry-leading profitability. His expertise spans Corporate Finance, Business Finance, Treasury, Taxation, M&A, and Investor Relations.

Strategic Vision and Leadership Comments

Commenting on the leadership transition, Sukamal Banerjee, Executive Director and Chief Executive Officer of Cyient, stated that the company's next phase of growth requires leaders who combine deep institutional knowledge with a sharp execution mindset. He emphasized that these appointments reflect the company's commitment to financial rigor, performance excellence, and long-term stakeholder value creation.

Prabhakar Atla expressed his excitement about the transition, highlighting his 20-year journey at Cyient and the opportunity to build on the company's strong foundation in a broader capacity. Shrinivas Kulkarni emphasized finance's pivotal role in fueling strategic investments, bolstering profitability, and enhancing stakeholder value as Cyient accelerates its AI-led growth trajectory.

Regulatory Compliance and Communication

The appointments comply with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has provided required disclosures pursuant to relevant SEBI and exchange circulars regarding changes in Key Managerial Personnel.

The formal communication was signed by Deputy Company Secretary Ravi Kumar Nukala and submitted to both BSE Limited (Scrip Code: 532175) and National Stock Exchange of India Limited (Scrip Code: CYIENT). Additional information has been made available on the company's website at www.cyient.com .