AGS Transact Technologies Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
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AGS Transact Technologies has informed the exchanges that Securitrans India Private Limited, an operational creditor, filed a Section 9 insolvency petition against the company before the NCLT Mumbai Bench on April 5, 2025. Securitrans alleges the company defaulted on payments of ₹237.39 million. The company has stated it will vigorously contest the petition and that financial implications cannot be determined at this stage. The matter is scheduled for its next hearing on June 9, 2025.
This is a pending insolvency petition, not an admitted one — the company is contesting it, so no immediate impact on operations or shareholders. However, an adverse ruling could potentially trigger CIRP proceedings, so investors should monitor the June 9 hearing closely.