HCL Infosystems Limited hereby inform the exchange regarding the order received by its wholly owned subsidiary, i.e. HCL Infotech Ltd.
HCL-INSYS · price
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HCL Infotech Limited, the wholly owned subsidiary of HCL Infosystems, has received a favorable interim order from the High Court of Himachal Pradesh at Shimla dated 31.12.2025. The court allowed HCL Infotech to withdraw INR 26.93 Crore (along with complete interest) that was deposited by HPSEBL (Himachal Pradesh State Electricity Board Limited), against the condition of submitting a Bank Guarantee for the equivalent amount and an undertaking to the court's satisfaction. This order was passed in an appeal filed by HPSEBL against an award dated 15.03.2024 (previously disclosed on 18.03.2024 and 13.05.2024). Both parties still retain the right to appeal against this order, meaning the matter is not yet finally resolved.
Positive near-term development for HCL Infosystems as its subsidiary can recover INR 26.93 Crore plus interest from HPSEBL, subject to furnishing a bank guarantee. However, since HPSEBL retains the right to appeal, the final outcome remains uncertain and the cash inflow is conditional on the appeal process.