Cyient has announced that the National Company Law Tribunal has officially ordered the commencement of the liquidation process for its 50:50 joint venture, Infotech HAL Limited. Following a period of non-operation, the decision was taken to mitigate further financial losses. Mr. Vasudevan Gopu has been appointed as the Liquidator to oversee the dissolution of the entity and manage the final winding-up procedures.
Liquidation Order Details
Following the formal admission of the liquidation application by the National Company Law Tribunal (NCLT), Bengaluru Bench, the process for the winding up of Infotech HAL Limited has officially begun as of March 3, 2026. This joint venture between Cyient and HAL has remained non-operational for the past three years.
Strategic Rationale
The decision to liquidate the entity was reached after an evaluation of its business viability. As a service-based entity with no active employees or ongoing business operations, the company lacked the tangible or operational assets necessary to support a revival as a going concern. The liquidation serves as a strategic measure to prevent any further financial erosion for the involved parties.
Management of the Liquidation Process
Mr. Vasudevan Gopu has been appointed to handle the liquidation process. The total estimated liquidation expenses are INR 3,56,000, which will be covered using the company’s existing bank balance. Furthermore, the Liquidator’s remuneration has been fixed at INR 2,00,000. The liquidation process will include public announcements to creditors and the filing of preliminary and periodic reports to ensure a transparent dissolution.
Source: BSE
