The National Company Law Tribunal (NCLT), Bengaluru Bench, has ordered the liquidation of Infotech HAL Limited, a 50:50 joint venture between Cyient Ltd and Hindustan Aeronautics Ltd (HAL). The tribunal appointed Mr. Vasudevan Gopu as the liquidator, marking the formal commencement of the process after earlier insolvency proceedings.
Cyient Ltd has confirmed that the NCLT Bengaluru Bench has officially ordered the liquidation of Infotech HAL Limited, its joint venture with HAL. The order, received on March 3, 2026, follows earlier insolvency proceedings initiated under Section 10 of the Insolvency and Bankruptcy Code, 2016.
The tribunal appointed Mr. Vasudevan Gopu as the liquidator, who will oversee the process of winding down operations and settling obligations. This development comes after disclosures made in March 2024 and August 2025, when the joint venture entered insolvency resolution.
The liquidation marks a significant step in restructuring efforts, with Cyient expected to focus on its core businesses while HAL continues its aerospace and defense priorities.
Key Highlights
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Entity: Infotech HAL Limited, a 50:50 JV of Cyient and HAL.
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Order: NCLT Bengaluru Bench directs liquidation.
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Liquidator: Mr. Vasudevan Gopu appointed.
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Timeline: Order received on March 3, 2026.
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Background: Insolvency proceedings initiated in 2024–25.
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Impact: Strategic restructuring for Cyient and HAL.
This decision underscores the challenges faced by joint ventures in balancing corporate governance, financial sustainability, and sectoral priorities.
Sources: InvestyWise, ScanX News, Cyient Ltd disclosures