Corporate Governance1 Jun 2026, 11:12 am
PS IT Infra: CoC 1st Meeting Outcome
AI Summary
The first meeting of the Committee of Creditors (CoC) for PS IT Infrastructure & Services Limited was held on May 25, 2026. The CoC was duly constituted, and its members were informed. Resolutions were passed via e-voting, including the appointment of Rajneesh Kumar Aggarwal as the Resolution Professional, ratification of IRP/RP remuneration, approval of CIRP costs and estimated monthly expenses, and the appointment of legal counsel and registered valuers. A transaction auditor was appointed for forensic audit with a lookback period from April 1, 2024, to April 29, 2026. The invitation for Expression of Interest (EOI) was approved, and the RP was authorized to publish Form G.
Key Highlights
- Rajneesh Kumar Aggarwal appointed as Resolution Professional.
- CIRP costs and monthly expenses approved by the CoC.
- Transaction auditor appointed for forensic audit.
- EOI invitation approved; RP to publish Form G.
- Future CoC meetings can be held with a shorter notice period of 48 hours.
Price Impact
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