Mumbai: The bankruptcy court in Mumbai has admitted AGS Transact Technologies for corporate insolvency resolution process (CIRP) on an application filed by the listed payment solution company's operational creditor Securitrans India Pvt Ltd.
The National Company Law Tribunal ( NCLT) has also appointed Brijendra Kumar Mishra as the interim resolution professional of the company.
AGS Transact is a provider of an integrated omnichannel payment solution across diverse sectors in India and in the manufacturing and supply of ATMs.
The company's vendor, Securitrans India, approached the tribunal in December last after the company failed to pay its dues of about ₹2.37 crore. As per the stock exchange filing, the company had reported revenue of ₹1,043 crore and a loss of ₹70 crore in FY24. In 2022, AGS Transact was listed on the bourses by raising about ₹680 crore from investors.
The National Company Law Tribunal ( NCLT) has also appointed Brijendra Kumar Mishra as the interim resolution professional of the company.
AGS Transact is a provider of an integrated omnichannel payment solution across diverse sectors in India and in the manufacturing and supply of ATMs.
The company's vendor, Securitrans India, approached the tribunal in December last after the company failed to pay its dues of about ₹2.37 crore. As per the stock exchange filing, the company had reported revenue of ₹1,043 crore and a loss of ₹70 crore in FY24. In 2022, AGS Transact was listed on the bourses by raising about ₹680 crore from investors.
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