NCLT approves Cyfuture India's resolution plan for Siti Broadband Services
This story was originally published at 19:21 IST on 2 June 2026
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NEW DELHI – The Delhi bench of the National Company Law Tribunal has approved Cyfuture India Pvt. Ltd.'s INR-71.17-million resolution plan for debt-ridden Siti Broadband Services Pvt. Ltd., a subsidiary of Siti Networks Ltd. The resolution plan by Cyfuture India adheres to the statutory mandates, including equitable treatment of stakeholders and compliance with applicable laws, the tribunal said, adding that it finds no impediment to granting its approval.
The tribunal's order said that the "Siti" trademark, used by Siti Broadband for conducting its business, is owned by the holding company Siti Networks. It noted that Siti Broadband only has the right to use the "Siti" trademark as per the agreement between the holding company. This trademark will be used by Siti Broadband to conduct its business for a period of one year for operational convenience, it said.
In 2023, the tribunal had admitted Aditya Birla Finance Pvt. Ltd.'s plea to start insolvency proceedings against Siti Broadband. The committee of creditors of the debt-ridden company approved Cyfuture India's resolution plan with 100% votes in 2024.
Siti Broadband Services was one of India's prominent multi-system operators, providing high-speed broadband internet and digital cable television services. Cyfuture India, a digital solutions provider, specialises in managing data centers, business process outsourcing services, artificial intelligence integration, and blockchain development.
Tuesday, shares of Siti Networks ended 2.9% higher at INR 0.35 on the National Stock Exchange. End
Reported by Surya Tripathi
Edited by Saji George Titus
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