NCLT Admits PS IT Insolvency Petition Over ₹3.1 Crore Default

NCLT Mumbai admits Section 7 IBC petition against PS IT Infrastructure for default on ₹2.9 crore inter-corporate deposit plus interest.
Tribunal rejects Corporate Debtor's arguments that petition is for recovery and that arbitration clause bars IBC proceedings.
IRP Rajneesh Kumar Aggarwal appointed with moratorium declared; financial creditor directed to deposit ₹3 lakh for CIRP costs.
Default amount of ₹3,10,02,122 deemed authenticated through NeSL with date of default recorded as 21 June 2025.