PS IT Infrastructure CoC Approves Mr. S. Bhawarlal's Resolution Plan

PS IT Infrastructure & Services Limited announced the outcome of its Thirteenth Committee of Creditors (CoC) meeting held on October 17, 2026. The CoC reviewed the e-voting results on Resolution Plans submitted by prospective resolution applicants. Mr. S. Bhawarlal's Resolution Plan was approved with a unanimous 100% voting share, exceeding the 66% threshold required under the Insolvency and Bankruptcy Code, 2016. The plans from Resurgent India Limited, Ambica Cotseeds Limited, and Aikyam Stressed Assets Fund I were not approved. Mr. S. Bhawarlal is an experienced entrepreneur in the electrical wires and cables manufacturing and trading sector. The Resolution Professional has been authorized to file for the approval of Mr. Bhawarlal's plan with the National Company Law Tribunal (NCLT).