Divestment13 Apr 2026, 05:21 pm
Cyient's 50:50 JV, Infotech HAL Ltd., enters NCLT-ordered liquidation
AI Summary
Cyient Ltd announced that the National Company Law Tribunal (NCLT), Bengaluru Bench, has admitted the application for the liquidation of Infotech HAL Limited, a 50:50 joint venture between Cyient and HAL. The NCLT ordered the commencement of the liquidation process for Infotech HAL Limited and appointed Mr. Vasudevan Gopu as the Liquidator. The order was received on March 3, 2026. The liquidation was proposed because the joint venture entity was not carrying out any business activity, and the measure aims to mitigate further financial losses. Cyient stated that there would be no quantitative or qualitative effect on the listed entity due to this liquidation.
Key Highlights
- NCLT ordered liquidation of Cyient's 50:50 JV, Infotech HAL Limited.
- Liquidation initiated to mitigate financial losses from non-operational JV.
- No quantitative or qualitative impact on Cyient Ltd. is expected.
- Mr. Vasudevan Gopu appointed as the Liquidator for the process.