NCLT Bengaluru Issues Notice To HAL In ₹8.41 Crore Insolvency Plea By Ujaas Energy Over Arbitral Award

The National Company Law Tribunal at Bengaluru on Wednesday issued notice to Public Sector Undertaking Hindustan Aeronautics Limited in a petition filed by Ujaas Energy Limited, seeking initiation of insolvency proceedings under Section 9 of the Insolvency and Bankruptcy Code over an alleged default of Rs 8.41 crore arising out of an arbitral award.

A coram of Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada passed the order.

Ujaas Energy contended that the debt arises from services rendered for the establishment and commissioning of a solar power plant and for providing operation and maintenance services. Disputes between the parties were referred to arbitration and culminated in an award in 2024 directing payment in favour of Ujaas Energy.

Accordingly to the operational creditor, a sum of Rs.8.41 crore remains outstanding under the arbitral award. It was further argued that statutory demand notices were duly served on HAL.

After briefly hearing the matter, the tribunal issued notice.

“Subject to the petitioner filing signed extract of board resolution dated 12.11.2025, appearing on page 247 of the paper book and identity documents of signatory to petition, notice be issued to the respondent.”, it said.

The matter has been posted to 25 May 2026 for further consideration.

For Petitioner: Advocate V.N Dubey