PS IT Infrastructure & Services Limited declared the voting results for its 44th Annual General Meeting held on September 21, 2026. Both ordinary resolutions were approved with a 99.03% majority, confirming the adoption of FY26 financials and the re-appointment of a director.

The meeting was conducted through video conferencing under the chairmanship of Mr. Rajaneesh Kr. Aggarwal, the NCLT-appointed Resolution Professional. A total of 50 members attended, including two from the promoter group and 48 public shareholders, satisfying quorum requirements under Section 103 of the Companies Act, 2013.

Voting Results

Remote e-voting was open from September 18 to September 20, 2026. Members who did not vote remotely could cast their votes electronically during the AGM until 1:00 pm. Mr. Sanjay Kumar Vyas served as the scrutinizer for both remote and ballot voting.

The consolidated scrutinizer report details the voting outcome for the two ordinary business items:

Mr. Kawarlal K. Ojha (DIN: 07459363), who retired by rotation, was eligible for re-election. The high approval rate indicates strong shareholder consensus on the company’s governance and financial reporting for the fiscal year ended March 31, 2026.

Governance Context

The proceedings highlight the operational continuity of governance processes despite the company’s insolvency status. The presence of the Resolution Professional as chair underscores the supervisory role mandated during the resolution phase. The adoption of FY26 financial statements provides stakeholders with updated visibility into the company’s financial position.

Results have been intimated to stock exchanges and will be uploaded to the company website.

PS IT Infrastructure & Services reported a net loss of ₹165.66 lakh for FY26, a significant widening from the ₹43.14 lakh loss recorded in the previous year. The Mumbai-based finance and investment firm filed its annual report while under the Corporate Insolvency Resolution Process (CIRP), with operations managed by a Resolution Professional.

Financial Performance

Total revenue for the year stood at ₹1,004.13 lakh, a sharp increase from ₹17.04 lakh in FY25. This surge was primarily driven by ₹1,003.99 lakh from the sale of equity shares, rather than core operational growth. Other income contributed a negligible ₹0.14 lakh.

Finance costs rose to ₹71.84 lakh from ₹24.42 lakh in the prior year, reflecting higher borrowing costs. Total expenses reached ₹1,225.53 lakh, including ₹1,617.27 lakh in purchases of stock-in-trade, offset by a decrease in inventories of ₹489.44 lakh.

What the Numbers Show

The revenue spike is non-operational in nature. With ₹1,003.99 lakh of the ₹1,004.13 lakh total revenue coming from equity share sales, the company’s core business generated minimal income. This reliance on asset liquidation to generate top-line figures, combined with rising finance costs, underscores the liquidity pressures that led to the insolvency proceedings.

Insolvency Proceedings

The National Company Law Tribunal (NCLT), Mumbai Bench, initiated the CIRP on April 29, 2026, following a petition by operational creditor Golden Medows Export Private Limited. Mr. Rajneesh Kumar Aggarwal was appointed as the Resolution Professional to manage the company’s affairs. Consequently, the powers of the Board of Directors were suspended.

The auditors highlighted material uncertainties regarding the going concern status, noting that the financial statements were prepared based on records provided by the erstwhile management. The company also faced defaults in loan repayments to multiple lenders, including Bahubali Properties Pvt. Ltd and Dove Suppliers Pvt. Ltd.

Governance and AGM

The 44th Annual General Meeting is scheduled for September 21, 2026, to be held via Video Conferencing. Shareholders will vote on the re-appointment of Mr. Kawarlal K. Ojha as a director liable to retire by rotation. No dividend has been recommended for the year due to accumulated losses.