Mumbai: The bankruptcy courtroom in Mumbai has admitted AGS Transact Technologies for corporate insolvency resolution process (CIRP) on an utility filed by the listed payment solution company‘s operational creditor Securitrans India Pvt Ltd.
The National Company Law Tribunal (NCLT) has additionally appointed Brijendra Kumar Mishra because the interim resolution professional of the corporate.
AGS Transact is a supplier of an built-in omnichannel fee resolution throughout numerous sectors in India and within the manufacturing and provide of ATMs.
The corporate’s vendor, Securitrans India, approached the tribunal in December final after the corporate did not pay its dues of about ₹2.37 crore. As per the inventory change submitting, the corporate had reported income of ₹1,043 crore and a lack of ₹70 crore in FY24. In 2022, AGS Transact was listed on the bourses by elevating about ₹680 crore from buyers.
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