Restructuring6 Mar 2026, 10:48 am
Liquidation Process Commences for Infotech HAL Limited, Joint Venture of Cyient Ltd
AI Summary
The National Company Law Tribunal, Bengaluru Bench has admitted the Interlocutory Application No. (Lig.) 01/2026 in petition CP (IB) No. 99/BB/2024 filed by Infotech HAL Limited, a 50:50 joint venture of Cyient Ltd with HAL, under Section 33(2) & 34(1) of the Insolvency and Bankruptcy Code, 2016. The NCLT has ordered for the commencement of liquidation process of Infotech HAL Limited and appointed Mr. Vasudevan Gopu as the Liquidator for the Liquidation Process.
Key Highlights
- The National Company Law Tribunal, Bengaluru Bench has admitted the Interlocutory Application No. (Lig.) 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 NCLT has ordered for the commencement of liquidation process of Infotech HAL Limited.
- Mr. Vasudevan Gopu has been appointed as the Liquidator for the Liquidation Process of Infotech HAL Limited.
- Infotech HAL Limited is a 50:50 joint venture of Cyient Ltd with HAL.
- The date of receipt of the order of the NCLT is 3 March 2026.