Cyient HAL JV Enters Liquidation After NCLT Order

Cyient Limited informed stock exchanges that the National Company Law Tribunal (NCLT), Bengaluru Bench, has admitted a liquidation application concerning Infotech HAL Limited, triggering the formal wind-up process of the joint venture.

NCLT Orders Liquidation Of Infotech HAL Limited

The disclosure follows an order passed by the National Company Law Tribunal, Bengaluru Bench, in Interlocutory Application No. (Liq.) 01/2026 within Company Petition CP (IB) No. 99/BB/2024. The petition had been filed by Infotech HAL Limited itself under Sections 33(2) and 34(1) of the Insolvency and Bankruptcy Code, 2016.

Infotech HAL Limited is a 50:50 joint venture between Cyient Limited and Hindustan Aeronautics Limited.

According to the exchange filing dated March 4, 2026, the tribunal has directed commencement of the liquidation process for the joint venture. The order also appoints Mr. Vasudevan Gopu as the liquidator responsible for conducting the liquidation proceedings in accordance with the Insolvency and Bankruptcy Code framework.

The company stated that it received the tribunal’s order on March 3, 2026. Earlier disclosures relating to the matter had been made on March 20, 2024 and August 28, 2025.

Technical context: Under Section 33 of the Insolvency and Bankruptcy Code, liquidation may be initiated when a corporate insolvency resolution process fails to produce an approved resolution plan. Section 34 provides for appointment of a liquidator who assumes control of the company’s assets, claims process and eventual distribution to creditors.

Cyient Share Price Movement

Share price of Cyient were trading at ₹879.50, down ₹2.75 (0.31%) on the day as of 1:58 pm IST on March 5, 2026, according to exchange data.

The stock opened at ₹886.90 and moved within a range of ₹872.95 to ₹893.90 so far. Cyient’s market capitalisation stood near ₹9,720 crore during the session.

The modest decline suggests the market reaction remained muted so far, likely reflecting the limited operational scale of the joint venture relative to Cyient’s broader engineering services portfolio.

Company Background

Cyient Limited is an India-based engineering, manufacturing and digital technology services provider serving sectors such as aerospace, defence, communications, rail transportation and energy.

The company has historically collaborated with aerospace and defence manufacturers, including government-owned enterprises such as Hindustan Aeronautics Limited. The Infotech HAL joint venture had been structured to deliver engineering and information technology services within the aerospace ecosystem.

Corporate actions affecting joint ventures are typically disclosed under Regulation 30 of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements framework when they may have material financial implications.

Conclusion

The liquidation of Infotech HAL Limited formally closes the insolvency process for the Cyient–HAL joint venture following the NCLT order received on 3 March 3, 2026. While the development marks the legal winding down of the entity, the immediate market response in Cyient shares appears limited so far, suggesting investors may view the exposure as non-core within the group’s overall operations.

source;

• https://nsearchives.nseindia.com/corporate/CYIENT_04032026174544_04032026NoticeonCommencementInfotechHALSigned.pdf
• https://www.nseindia.com/get-quote/equity/CYIENT/Cyient-Limited