PBA Infrastructure Enters Corporate Insolvency Resolution Process

NCLT order dated September 29, 2026, initiates insolvency proceedings against PBA Infrastructure Limited.
Mr. Vijay P. Lulla appointed as Interim Resolution Professional to oversee the firm’s assets and operations.

Reader Takeaway: Management board suspended; creditors must file claims by October 14, 2026, to participate in resolution.

What just happened

Following an order from the National Company Law Tribunal (NCLT) dated September 29, 2026, PBA Infrastructure Limited has commenced the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code. The management and control of the company have been transferred to the appointed Interim Resolution Professional (IRP), Mr. Vijay P. Lulla.

Why this matters

The initiation of CIRP marks a critical juncture for the infrastructure company. Under the current legal framework, the existing board of directors is suspended, and their powers are vested in the IRP. This move is designed to protect assets and initiate a formal resolution process to address the company’s financial obligations.

What changes now

The company issued a public announcement on October 1, 2026, in the Free Press Journal and Navshakti, formally inviting all creditors to submit their claims. Financial creditors are mandated to file claims exclusively through electronic channels, while other creditors have the option of physical submission. The strict deadline for all claim submissions is October 14, 2026.

What to track next

The IRP is currently tasked with the management of the firm's daily operations and asset protection. The statutory timeline for the CIRP is 180 days, setting a tentative completion date of March 28, 2027, subject to potential extensions granted by the NCLT.