PS IT Infrastructure & Services Under NCLT Insolvency

Revenue rose to Rs 10.04 crore in FY26, yet the Net Loss widened to Rs 1.66 crore.

Reader Takeaway: Company operations are halted under CIRP; investors face high risk from significant debt defaults and regulatory non-compliance.

What just happened

PS IT Infrastructure & Services has officially entered the Corporate Insolvency Resolution Process (CIRP) as per an NCLT Mumbai Bench order dated April 29, 2026. Consequently, the company's Board of Directors has been suspended, and Mr. Rajneesh Kumar Aggarwal has taken charge as the Resolution Professional (RP) to oversee the insolvency proceedings.

Why this matters

The company has confirmed that it has no active business operations. Financial filings reveal a worsening position with a net loss of Rs 1.66 crore for FY 2025-26 compared to Rs 0.43 crore in the previous year. Auditors have raised red flags over inventory valuation, unconfirmed trade receivables, and a lack of actuarial valuation for employee benefits.

Risks to watch

Investors should be aware of severe distress signals: the company has defaulted on short-term borrowings owed to entities like Bahubali Properties and Golden Medows Exports. Furthermore, significant disputed income tax demands—totaling Rs 43.23 crore for FY 2012-13 alone—remain pending at various legal forums. BSE has also levied fines for non-compliance regarding the appointment of a mandatory Compliance Officer.

What to track next

The focus for shareholders now shifts to the Resolution Professional’s management of the CIRP timeline. Key events include the outcome of the Invitation for Expression of Interest issued in May 2026 and any disclosures regarding the eventual disposal or restructuring of company assets.