Dear Sir/Madam, Pursuant to regulation 30 of SEBI( LODR) Regulations 2015, we hereby inform you that National Company Law Tribunal, Mumbai Bench vide its order passed in C.P.(IB) No.297/MB/2026- Canara Bank vs PBA Infrastructure Ltd, has admitted the Application filed by Canara Bank, Financial Creditor under the section 7 of the Insolvency and Bankruptcy Code 2016, for initiation of Corporate Insolvency Resolution Process (CIRP) against Company ....

PBA INFRASTRUCTURE LTI). Date: 3Oth September 2026 BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001. Scrip Code: 532676 | tStN: |NE16OHO1019 Ref': Regulation 30 of the sEBl (Listing obligations and Disclosure Requirements) Regulations , zots subject: Admission of Apptication and Initiation of corporate Insolvency Resolution process Dear Sir/Madam, Pursuant to Regulation 30 of the sEBl (Listing obligations and Disclosure Requirements) Regulations, 20L5' read with Part A of schedule lll thereto, we hereby inform you that the Hon,bre National company Law Tribunal, Mumbai Bench-Vl, vide its order passed in c.p. (tB) No. 2g7/MB/2O26 - Canara Bank vs' PBA Infrastructure Limited, has admitted the application filed by canara Bank, the Financial Creditor; under Section 7 of the Insolvency and Bankruptcy Code, 201,6 (,lBC,,), for initiation of the corporate lnsolvency Resolution Process ("clRP") against pBA lnfrastructure Limited (,,company,,) respect of the default in payment of loan and interest. in T Ph ite a mH bo an' rb Lle u lN laC L hT a h va ins g a c Rc eo grd isin trg aly ti oi nn it Nia ote .d the clRp against the company and appointed Mr. Vijay tBBl/rpA-001 /rp-poo323/20r7-1,8/1,0593, as the Interim Resolution professiona | ("lRp"). The management and affairs of the company shall be dealt with in accordance with the provisions of the IBC and the applicable regulations thereunder. The Company intends to file an appeal against the aforesaid order before the Hon,ble National company Law Appellate Tribunal (NCLAT), in accordance with applicable law. we request you to kindry take the above information on record and disseminate the same to the members of the Stock Exchange. For PBA Infrastructure Li dflrylA rl-l'cr:tYe-;".tr':a Zl Mtji'iiiAi j"iJ rai-''i1{i 9.yl-o) NaQi4 P. Belani DIN:02395693 Joint Place: Mumbai Encl.: copy of the order of the Hon,ble NCLII Mumbai Bench_Vl Regd'off':"Prakash",6ll13,Y.N.luravMarg,chembur,Mumbai -4u007t.Tel.:g1-22-61277200/01/02/a3 Fax:91_22_61271203 E-mail :pbamumbai@gmail.com.wcbsitc ; www.pbairfi.a.in. cIN No.: L45200MHl gl4pLC0l1653 NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCH COURT VI Item No. P1 C.P.(IB)/ 297(MB)2026 CORAM: SHRI SAMEER KAKAR SHRI NILESH SHARMA HON’BLE MEMBER (TECHNICAL) HON’BLE MEMBER (JUDICIAL) ORDER SHEET OF HEARING (HYBRID) DATED 29.09.2026 NAME OF THE PARTIES: - CANARA BANK PBA INFRASTRUCTURE LIMITED Under Section 7 of the IBC,2016 ORDER The case is fixed for pronouncement of the order. The order is pronounced in the open court, vide separate order. Detailed order is being uploaded on the NCLT portal today. Sd/- Sd/- NILESH SHARMA SAMEER KAKAR MEMBER (JUDICIAL) MEMBER (TECHNICAL) //Sumant// IN THE NATIONAL COMPANY LAW TRIBUNAL, MUMBAI BENCH-VI C.P. (IB)/297/MB/2026 [Under Section 7 of the Insolvency and Bankruptcy Code, 2016 r/w Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016] CANARA BANK [CIN: U67190KA1906PLCOO1069] 112, J.C. Road, Bangalore – 560002 Also, at Stressed Asset Recovery Branch, 8th Floor , B- wing, C -14 , G Block, Canara Bank Building, BKC, Block-G , Bandra ( East) Mumbai- 400051 …Applicant/Financial Creditor PBA INFRASTRUCTURE LIMITED [CIN: L45200MH1974PLC017653] Prakash 611/3 V N Purav Marg Chembur, Mumbai- 400071 ...Respondent/Corporate Debtor Pronounced: 29.09.2026 CORAM: HON’BLE SHRI NILESH SHARMA, MEMBER (JUDICIAL) HON’BLE SHRI SAMEER KAKAR, MEMBER (TECHNICAL) IN THE NATIONAL COMPANY LAW TRIBUNAL, MUMBAI BENCH-VI Appearances: Hybrid For Applicant: Sr. Adv. Mr. Chetan Kapadia i/b Adv. Ms. Srideepa Bhattachharyya, Adv. Ms. Neha Shivhare, Adv. Mr. Aditya Pandey Adv. Ms. Aparajita Chaubey & Adv. Mr. Rohan Agarwal. For Respondent: Adv. Mr. Rafeeq Peermohideen a/w Adv. Mr. TN Tripathi & Adv. Ms. Soumya i/b TN Tripathi & Co. ORDER [PER: CORAM] 1. BACKGROUND 1.1 This C.P. (IB) No.297/MB/2026 (Application) was filed on 18.03.2026, under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by Canara Bank, the Financial Creditor (FC), for initiating Corporate Insolvency Resolution Process (CIRP) against M/s PBA INFRASTRUCTURE LIMITED, the Corporate Debtor (CD), for the alleged default in repayment of financial debt of Rs. 1126,41,34,714 /- (Indian Rupees One Thousand, One Hundred Twenty-Six Crore Forty-One Lakh Thirty-Four Thousand and Seven Hundred and Fourteen Only). 1.2 The date of default as given in Part IV of the Application is 28.03.2012.(as per Additional Affidavit dated 10.04.2026) 1.3 The Applicant has proposed Mr. Vijay Pitambar Lulla, having address at 201, Satchidananda Building, 2nd Floor, 12th Road, Khar, Mumbai, Maharashtra, 400052, having Registration No. IBBI/IPA-001/IP- 2 | P age CP (IB) No. 297/MB/2026 Canara Bank v. PBA Infrastructure Limited IN THE NATIONAL COMPANY LAW TRIBUNAL, MUMBAI BENCH-VI P00323/2017-18/10593, email ID : vijayplulla@rediffmail.com to act as the Interim Resolution Professional (IRP), in case the Application is admitted. 2. CONTENTIONS OF FC 2.1 It is stated that PBA Infrastructure Limited (formerly M/s. Prakash Building Associates Limited) ("Corporate Debtor"/ "Respondent") was incorporated on July 31, 1974, and has been availing banking facilities with Canara Bank ("Financial Creditor"/"Petitioner") since 1974. On September 10, 2003, a Working Capital Consortium Agreement ("WCA") was executed between the Corporate Debtor, the Petitioner, and Union Bank of India, pursuant to which working capital facilities were sanctioned and secured by hypothecation of plant, machinery and current assets, and personal guarantees of the promoter-directors. Over the years, the Petitioner, as Lead Bank, extended fund-based and non-fund-based credit facilities to the Corporate Debtor through a consortium that grew to include State Bank of Patiala, Karur Vysya Bank, and Punjab & Sind Bank. 2.2 The Petitioner additionally sanctioned Term Loan-I of INR 43.50 crores (Indian Rupees Forty-Three Crores Fifty Lakhs Only) and converted a Short-Term Loan of INR 25 crores (Indian Rupees Twenty-five Crores Only) into Long Term Loan-II, repayable over 60 months. The facilities were secured by hypothecation of stocks and book debts, equitable mortgages over properties in Mumbai, Pune and Nagpur, pledge of promoter shareholding, and personal guarantees of the promoter-directors. 2.3 In March 2012, the Corporate Debt Restructuring ("CDR") Empowered Group approved a CDR package with a cut-off date of October 1,2011, providing for 3 | P age CP (IB) No. 297/MB/2026 Canara Bank v. PBA Infrastructure Limited IN THE NATIONAL COMPANY LAW TRIBUNAL, MUMBAI BENCH-VI a two-year moratorium on principal, concessional interest rates, a Funded Interest Term Loan ("FITL") of lNR 6.66 crores (Indian Rupees Six Crores Sixty-Six Lakhs Only), and waiver of all penal charges. However, the Corporate Debtor failed to comply with the CDR conditions, and the loan account slipped to Non-Performing Asset ("NPA") status on June 30, 2013, (treated as NPA from March 28, 2012, the date of CDR sanction). The CDR Empowered Group directed the Corporate Debtor to infuse INR 10.00 crores (Indian Rupees Ten Crores Only) by November 30,2014, failing which the CDR package would be treated as failed. The CDR Empowered Group approved exit of the account from the CDR mechanism on October 28,2015, as the Corporate Debtor failed to comply with the CDR conditions 2.4 Following exit from CDR, a recall notice was issued on December 2, 2015, and a notice under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ("SARFAESI Act") was issued on December 14, 2015. A legal notice was issued on April 27, 2016, demanding repayment of outstanding dues as on March 31, 2016. Despite these steps, the Corporate Debtor issued five One-Time Settlement ("OTS") proposals vide letters dated Augu [Showing first 8,000 characters — download PDF for full document]