PS IT Infrastructure & Services Ltd
PS IT Infrastructure admitted to insolvency; IRP appointed for Rs. 3.10 Crore default
REGULATORY
▼ Concern Flagged
HIGH RISK
📅 Filed on BSE: 30 Apr 2026, 10:44 AM IST · BSE ID: af5e43c3-b114-4032-9d48-f79813993353
View Original BSE Filing (PDF)
💡
In Simple Terms
A court has declared PS IT Infrastructure insolvent after it failed to repay Rs. 3.10 Crore borrowed from another company. A bankruptcy official has been appointed to manage the insolvency process.
🤖 AI Summary
- NCLT Mumbai admitted PS IT Infrastructure to insolvency for Rs. 3,10,02,122 default on inter-corporate deposit
- Principal amount outstanding: Rs. 2,90,00,000; interest at 9% p.a. unpaid: Rs. 20,02,122 as of 30.09.2025
- Default date: 21.06.2025; IRP Mr. Rajneesh Kumar Aggarwal appointed with valid AFA till 30.06.2027
- Financial creditor: Golden Medows Export Private Limited; corporate debtor contested on arbitration grounds
- NCLT order pronounced 29.04.2026; Corporate Insolvency Resolution Process initiated under IBC 2016
🔢 Key Numbers — exact figures from BSE filing, not rounded
Total default amount (as of 30.09.2025)
Rs. 3,10,02,122
Principal amount outstanding
Rs. 2,90,00,000
Interest outstanding at 9% p.a.
Rs. 20,02,122
IRP registration number
IBBI/IP-P00886/2017-2018/11483
NCLT order pronounced
29.04.2026
Default date (MoU maturity + 1 day)
21.06.2025
🏢 How This Affects the Company
Company operations enter Corporate Insolvency Resolution Process (CIRP). Management authority transfers to appointed Insolvency Resolution Professional. Business continuity and contracts now subject to IRP oversight and potential restructuring or liquidation.
Balance sheet equity at critical risk. Rs. 3,10,02,122 liability confirmed as default. All shareholder claims are subordinated to creditor claims under IBC hierarchy. Asset realization process commenced.
Managing Director (Kawarlal Kanhaiyalal Ojha, DIN 07459363) marked as Suspended. Day-to-day operations transferred to IRP. Existing management decisions subject to IRP approval. Employee payroll and supplier payments now controlled by IRP.
Insolvency admitted — highest financial distress status. Shareholder equity at existential risk. Business continuity uncertain. Debt obligations crystallized. Company may face liquidation if resolution plan fails within prescribed CIRP timeline.
👥 What This Means For Shareholders
✅
Action Required
Monitor IRP announcements and NCLT website for Corporate Insolvency Resolution Plan filing; expect no dividend or capital returns during insolvency.
👤
Who Is Affected
All equity shareholders of PS IT Infrastructure & Services Limited. Shareholding value at risk; claims subordinated to all creditors. CIRP process determines if equity gets recovery post-creditor claims.
🔍
Management Signal
Company management rejected insolvency petition on grounds of profitability and contractual dispute resolution, but tribunal admitted petition—signaling tribunal assessed default evidence sufficient under IBC Section 7.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
IRP filing of Corporate Insolvency Resolution Plan within statutory 180-day timeline from admission date
Public announcement of creditor meetings and resolution plan proposals from NCLT portal updates
Any stake sale or asset realization announcements filed with BSE under Reg 30 by IRP
HIGH RISK
Company admitted to insolvency; operations under court control; shareholder equity subordinated to creditors; liquidity distress confirmed by tribunal.
💡 Investor Takeaway
NCLT admitted PS IT Infrastructure to insolvency on 29.04.2026 for default of Rs. 3,10,02,122 owed to Golden Medows Export (principal Rs. 2,90,00,000 + interest Rs. 20,02,122). Insolvency Resolution Professional appointed. Shareholder claims are subordinated to creditor recovery under IBC hierarchy. Default date: 21.06.2025.
⚖️ Strengths & Concerns
⚠️ Concerns
- Default of Rs. 3,10,02,122 confirmed by NCLT; principal of Rs. 2,90,00,000 remains outstanding unresolved
- Company admitted to insolvency despite contesting petition; claims of profit-making status rejected by tribunal
📅 Company Track Record
Company incorporated 1982 (CIN: L72900MH1982PLC027146). Registered office in Mumbai, Malad West. No prior BSE filings on record show financial distress signals before 30.04.2026 admission notice.
Based on publicly available historical data. For context only.