NCLT Bengaluru Bench Orders Dissolution After Successful Asset Realization and Compliance
In a significant development, the National Company Law Tribunal (NCLT) Bengaluru Bench, presided over by Shri Sunil Kumar Aggarwal, Member (Judicial), and Shri Radhakrishna Sreepada, Member (Technical), has ordered the dissolution of Infotech HAL Limited. The order comes after the completion of the liquidation process under the Insolvency and Bankruptcy Code, 2016.
The process began when Infotech HAL Limited, a joint venture between Cyient Limited and Hindustan Aeronautics Limited, filed for Corporate Insolvency Resolution Process (CIRP) under Section 10 of the Insolvency and Bankruptcy Code, 2016, in August 2025. Following a decision by the Committee of Creditors (CoC) to liquidate the company, the NCLT directed liquidation in February 2026, appointing Mr. Vasudevan Gopu as the Liquidator.
The liquidation process involved the realization of all the company's assets, which primarily included funds in bank accounts and receivables. The Stakeholders' Consultation Committee (SCC) approved the payment of liquidation costs and the distribution of remaining proceeds to the Employees' Provident Fund Organisation, as per the provisions of the Code. The final report, along with a compliance certificate, was submitted to the Insolvency and Bankruptcy Board of India (IBBI) and the Registrar of Companies.
The Tribunal's order mandates the Liquidator to inform the Income Tax and GST Departments about the dissolution and to surrender the company's PAN and GSTIN. Notably, the dissolution order will not affect creditors' rights against the company's former directors or guarantors.
The Tribunal also discharged the Liquidator from his duties, marking the conclusion of the liquidation proceedings. The dissolution signifies the end of Infotech HAL Limited's corporate existence, ensuring compliance with all regulatory requirements.
Bottom Line :
Insolvency and Bankruptcy Code, 2016 - Dissolution of Corporate Debtor under Section 54 - Liquidation process completed, and all realizable assets dealt with - Corporate Debtor dissolved with directions to inform Income Tax and GST Departments and surrender PAN and GSTIN - Liquidator discharged from duties.
Statutory provision(s): Insolvency and Bankruptcy Code, 2016 Sections 54, 36, 45, Regulation 45 of IBBI (Liquidation Process) Regulations, 2016
Infotech HAL Limited, (NCLT)(Bengaluru Bench) : Law Finder Doc id # 2966559
