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PS IT Infrastructure's resolution plan approved by creditors, led by Mr. S. Bhawarlal
17-Oct-2026, 05:07
The Committee of Creditors of PS IT Infrastructure & Services Limited approved a resolution plan submitted by Mr. S. Bhawarlal with 100% of the voting share, exceeding the required 66% threshold under the Insolvency and Bankruptcy Code, 2016. The resolution plans from Resurgent India Limited, Ambica Cotseeds Limited, and Aikyam Stressed Assets Fund I were not approved following an e-voting process involving all 13 members of the Committee of Creditors. Mr. Bhawarlal, an individual and experienced entrepreneur, is the promoter of SBEE Cables (India) Limited, and the Committee authorized the Resolution Professional to file an application with the National Company Law Tribunal for approval of the plan.