Naini Aerospace Limited (NAeL) was incorporated on 29th December 2016 as a wholly owned subsidiary of Hindustan Aeronautics Limited (HAL) to take-over sick Naini unit of Hindustan Cables Limited (HCL) which was closed for last 15 years. Commencement of business operations in Aerospace and Aviation Sector through revival of the plant was primary objective of the company. The company signed agreements with HCL for purchase of identified assets and for transfer of Manpower of HCL Naini unit on 30^th January 2017 to be effective from 01^st February 2017. Accordingly identified assets and employees of Naini unit of HCL were taken-over by NAeL on 01^st February 2017.