PS IT Infrastructure CFO resigns citing CIRP process
The Committee of Creditors for PS IT Infrastructure & Services Limited accepted the resignation of CFO Mr. Rajesh Baliram Patole on June 4, 2026, effective from May 23, 2026. The resignation was attributed to the initiation of the Corporate Insolvency Resolution Process (CIRP) and personal reasons. The disclosure was made to BSE Limited in compliance with SEBI LODR Regulations.
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The Committee of Creditors (CoC) for PS IT Infrastructure & Services Limited accepted the resignation of Mr. Rajesh Baliram Patole from the position of Chief Financial Officer (CFO) on June 4, 2026. The resignation, effective from May 23, 2026, was attributed to the initiation of the Corporate Insolvency Resolution Process (CIRP) and personal reasons. The decision was taken during the second meeting of the CoC held on June 4, 2026, under the provisions of the Insolvency and Bankruptcy Code (IBC), 2016.
The meeting, overseen by Mr. Rajneesh Kumar Aggarwal, the Interim Resolution Professional and Resolution Professional, commenced at 3:30 PM and concluded at 3:48 PM. The disclosure regarding the resignation was submitted to BSE Limited in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The case is registered under case number (IB)/1232(MB) 2025.
Key Disclosures on CFO Resignation
| Particulars | Details |
|---|---|
| Name | Mr. Rajesh Baliram Patole |
| Designation | CFO |
| Reason for Resignation | Initiation of CIRP Process and personal reasons |
| Date of Resignation | May 23, 2026 |
| Date of Acceptance | June 4, 2026 |
Historical Stock Returns for PS IT Infrastructure & Services
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.61% | -8.27% | -25.15% | -22.29% | +24.49% | -95.30% |
Who will be appointed as the interim or permanent CFO for PS IT Infrastructure & Services Limited during the CIRP process, and how might the absence of a CFO impact financial reporting obligations?
What are the potential resolution applicants or bidders likely to emerge for PS IT Infrastructure & Services Limited, and what timeline can stakeholders expect for the completion of the insolvency resolution process?
How might the CFO's departure and ongoing CIRP affect PS IT Infrastructure & Services Limited's ability to fulfill existing contracts and maintain operational continuity for its clients?
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