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PS IT Infrastructure & Services has been admitted into Corporate Insolvency Resolution Process (CIRP) by the NCLT due to a default of approximately 3.10 Cr on a loan from Golden Medows Export Private Limited. This decision shifts control from the existing board to an Interim Resolution Professional, Mr. Rajneesh Kumar Aggarwal. A moratorium is now in effect, halting all legal actions and asset transfers against the company. This marks a critical phase for the company's future, with the applicant depositing 0.03 Cr for initial CIRP expenses.