NSEPendency of Litigation(s)/dispute(s) or the outcome impacting the Company6 Oct 2026 · 6 Oct 2026, 09:58 pm
Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
HCL Infosystems Limited · HCL-INSYS
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HCL Infosystems Limited has informed the Exchange that its wholly owned subsidiary, HCL Infotech Limited, has received a judgment passed by the Principal District Judge, Muzaffarpur, Bihar in the Section 34 Objection Petition filed by Uttar Bihar Gramin Bank against HCL Infotech Limited, challenging the Arbitral Award dated 29.10.2019.
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HCL Infosystems Limited has informed the Exchange about HCL Infotech Limited , wholly owned subsidiary of the Company has received a judgement passed by the Principal District Judge, Muzaffarpur, Bihar in the Section 34 objection petition
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06.10.2026
Department of Corporate Services Listing Department
BSE Limited National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers, Exchange Plaza,
Dalal Street, Fort, C-1, G-Block, Bandra - Kurla Complex
Mumbai-400001 Bandra (E), Mumbai – 400051
Symbol:500179 Symbol: HCL-INSYS
Subject: Intimation under Regulation 30 read with Para B of Part A of SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015.
Dear Sir/Madam,
Pursuant to Regulation 30 read with Para B of Part A of Schedule III to the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 we hereby inform you that HCL Infotech Limited, a wholly owned subsidiary of the
HCL Infosystems Limited (‘the Company’), has received a judgment passed by the Principal District Judge,
Muzaffarpur, Bihar in the Section 34 Objection Petition bearing Miscellaneous (Arbitration) Case No. 249 of 2019,
titled as ‘Uttar Bihar Gramin Bank v. HCL Infotech Limited’. The said Objection Petition was filed by Uttar Bihar Gramin
Bank(‘UBGB’) against HCL Infotech Limited(‘HCL’), challenging the Arbitral Award dated 29.10.2019. As per the
Arbitral Award dated 29.10.2019 certain claims of HCL (to the tune of approx. ₹13.41 Crore under various heads,
together with pendente lite and future interest @ 18% per annum, and a further sum of ₹20 lakh towards costs) were
allowed and the counter claims of UBGB were rejected.
The summary of the impugned judgment dated 16.09.2026 (received by HCL on 06.10.2026) is that the Ld. Principal
District Judge, while allowing the Objection Petition filed by UBGB, held that the Arbitral Tribunal failed to make a
categorical finding that the termination of the Service Agreement dated 11.12.2012 by UBGB was legally invalid. The
Ld. Judge further held that the Tribunal had mechanically relied upon Section 31(7) of the Arbitration and Conciliation
Act, 1996 while awarding interest at 18% per annum, without examining the applicable statutory provision or
recording reasons for treating 18% as a reasonable rate. The Ld. Judge further held that the claims of HCL which
are independent of the legality of termination and legally and factually severable shall remain unaffected.
HCL is currently evaluating the judgment and the remedies available. It shall take further action as may be advised
and considered appropriate, in accordance with the applicable law, before the competent court/ High Court at
Patna, as the impugned judgment appears to be ambiguous.
Pursuant to Para B of Part A of Schedule III of Regulation 30 of Securities and Exchange Board of India (Listing
Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular SEBVHO/CFD/CFD-PeD-
1/P/CIR/2023/123 dated July 13, 2023, and HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.
You are requested to take the same on record.
For HCL Infosystems Limited
Twinkle Monga
Company Secretary & Compliance officer
Membership No: A-54882
ANNEXURE-A
Sr.no Particulars Remarks
1 Brief details of litigation viz. name(s) of the opposing Applicant: Uttar Bihar Gramin Bank.
party, court/ tribunal/agency where litigation is Respondent: HCL Infotech Limited, wholly owned
filed, brief details of dispute/ litigation. subsidiary of HCL Infosystems Limited
Litigation was filed: Before the Court of Principal
District Judge, Muzaffarpur, Bihar.
Brief details of litigation: UBGB filed a Section 34
Objection Petition before the Principal District Judge,
Muzaffarpur, challenging the Arbitral Award dated
29.10.2019 whereby certain claims of HCL were
allowed and the counter claims of UBGB were
dismissed/ rejected.
2 The details of any change in status and / or any The Principal District Judge has allowed UBGB’’s
development in relation to such proceedings. Petition vide its judgement dated 16.09.2026
(received by HCL on 06.10.2026).
HCL is currently reviewing/ evaluating the said
judgment and the remedies available. It shall take
appropriate action as may be advised, in accordance
with the applicable law before the competent court/
High Court, as the impugned judgment appears to be
ambiguous.
3 Quantum of claims ₹13.41 Crore together with pendente lite and future
interest at the rate of 18% per annum, along with a
further sum of ₹20 lakh towards costs.
4 In the case of litigation against key management or Not Applicable.
its promoter or ultimate person in control, regularly
provide details of any change in the status and / or
any development in relation to such proceedings:
5 In the event of settlement of the proceedings details Not Applicable.
of such settlement including - terms of the
settlement, compensation/ penalty paid (if any) and
impact of such settlement on the financial position
of the listed entity: