PS IT Infrastructure & Services Ltd has submitted a provisional list of 11 Prospective Resolution Applicants (PRAs) under its Corporate Insolvency Resolution Process (CIRP). The list is subject to verification against Section 29A of the IBC.
PS IT Infrastructure Ltd CIRP Update
Provisional List of 11 Prospective Resolution Applicants Submitted
Key Dates: June 27, 2026 (Document Submission & Objections Deadline)
Reader Takeaway: CIRP progresses with potential bidders identified; final eligibility is key.
What just happened
PS IT Infrastructure & Services Ltd, currently undergoing Corporate Insolvency Resolution Process (CIRP), has submitted a provisional list of 11 Prospective Resolution Applicants (PRAs) to the BSE. This list includes entities that expressed interest in acquiring the company.
Why this matters
This filing is a crucial procedural step in the CIRP. It signifies that there are potential buyers interested in reviving the company. The verification process will determine the final pool of eligible bidders who can submit resolution plans.
The backstory
PS IT Infrastructure & Services Ltd is under CIRP. The Insolvency and Bankruptcy Code (IBC) 2016 provides a framework for the resolution of distressed companies. This includes identifying interested parties, verifying their eligibility, and evaluating resolution plans.
What changes now
The submission of this provisional list moves the CIRP forward. The Resolution Professional will now conduct due diligence on the 11 applicants. Two applicants, Ambica Cotseeds Limited, Globaledge Dynamics Pvt Ltd, and Standard Capital Market Limited, have been rejected at this stage for not meeting net-worth criteria or failing to submit the Earnest Money Deposit (EMD).
Risks to watch
All listed applicants are currently "Under verification" for eligibility under Section 29A of the IBC. Any applicant may be disqualified if they fail this due diligence. The provisional status means inclusion does not guarantee the right to submit a resolution plan.
Peer comparison
Information on peers undergoing CIRP is not available in the provided filing. However, the rejections highlight the strict application of eligibility criteria common in such processes.
Context metrics (time-bound)
The provisional list was filed on June 22, 2026. Stakeholders have until June 27, 2026, to submit pending documents or objections.
What to track next
Investors should closely monitor future filings for the final list of eligible PRAs and the subsequent submission and evaluation of resolution plans.