NCLT Orders Commencement of Liquidation Process for Infotech HAL Limited
Cyient Ltd has confirmed that the National Company Law Tribunal (NCLT), Bengaluru Bench, has admitted an application and subsequently ordered the commencement of the liquidation process for Infotech HAL Limited, the joint venture company of Cyient and HAL. The NCLT proceedings led to the appointment of Mr. Vasudevan Gopu as the official Liquidator.The NCLT order, delivered on 3 March 2026, formalized the winding down process for Infotech HAL Limited.
Background to Liquidation
The decision to pursue liquidation stemmed from the operational status of the joint venture. Details provided indicated that the joint venture entity had been non-operational for the past three years. Given that it is a service-based entity, it reportedly lacked any employees or active business operations, with no substantial tangible or operational assets capable of supporting revival as a going concern. Consequently, liquidation was proposed to mitigate further financial losses.During the insolvency resolution process, the Committee of Creditors (CoC) constituted on various dates, including 15.09.2025, deliberated on the state of the corporate debtor. After considering valuation reports, the Committee of Creditors passed a resolution approving the company's liquidation with 78.70% of the votes in favour.
A key stakeholder committee provided the following details regarding creditor claims and voting percentages:
| Name of Member of CoC | Claim Amount (INR) | % of Admitted Voting |
|---|---|---|
| Assistant Commissioner of Central Tax, South Division-08, Bengaluru South Commissionerate | 74,18,868 | 64.41% |
| All Time Support (Ravibabu - Proprietor) | 12,00,000 | 10.42% |
| Employees' Provident Fund Organization, Regional Office, Bengaluru | 13,59,608 | 11.80% |
| Total | 1,15,18,961 | 100% |
Financial Directives for Liquidation
The Committee of Creditors took decisive steps to facilitate the winding down process.Liquidation Costs and Liquidator Fees:
The Committee approved the appointment of Mr. Vasudevan Gopu as Liquidator. The Committee of Creditors fixed the Liquidator's remuneration at INR 2,00,000, which is payable in addition to applicable taxes and the reimbursement of other expenses.
The Committee also noted the estimated liquidation expenses, which amounted to INR 3,56,000, including statutory filings, legal filings, and administrative costs. The members determined that the existing bank balance of the Corporate Debtor was sufficient to cover these estimated expenses.
As of the proceedings, the total CIRP expenses amounting to INR 4,50,561 had been paid, leaving a current bank balance of Rs. 12,43,854.93 in the Corporate Debtor’s account.
The liquidation order directs the Liquidator to make a public announcement and provides a 30-day period for creditors to submit their claims.
CYIENT Stock Price Movement
Shares of Cyient Limited today slipped by 1.32% to settle at ₹896.15. The stock saw significant trading interest, recording a total volume of 250,101 shares during the session.Source:
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.