AGS Transact defaults on dues worth ₹386 million
2 weeks, 5 days ago

AGS Transact defaults on dues worth ₹386 million

The Hindu  

AGS Transact Technologies and its units defaulted in paying obligations worth ₹385.9 million, the struggling payments services firm said. The company and its unit Securevalue India "defaulted in the payment of principal repayment obligations for certain outstanding borrowings" worth ₹212.3 million, it said in an exchange filing late on Thursday. The companies and another unit, India Transact Services, also delayed paying certain statutory dues, including tax liabilities worth ₹173.6 million due to delays in collecting payments from customers and invoicing certain unbilled amounts. The latest development follows a string of financial difficulties for the Indian firm, including a threat of insolvency proceedings from Maxwel Aircon India, one of its creditors, over alleged unpaid dues.

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Indian payments firm AGS Transact Technologies faces insolvency over alleged unpaid dues
3 weeks, 2 days ago

Indian payments firm AGS Transact Technologies faces insolvency over alleged unpaid dues

Live Mint  

* AGS Transact defaulted on dues totalling 7.26 billion rupees * Crisil downgraded stock on February 4, India Ratings on February 5 * Shares slump 62.4% since February 4, hit record low MUMBAI, March 3 - Indian payments services firm AGS Transact Technologies said on Saturday that a creditor plans to initiate insolvency proceedings against the company for non-payment of …

How AGS Transact's cash crunch that led to shut ATMs, loan defaults, has been in the making
1 month, 1 week ago

How AGS Transact's cash crunch that led to shut ATMs, loan defaults, has been in the making

Live Mint  

In the second week of December, a Delhi-based investor had a call with the management of AGS Transact Technologies Ltd, the country’s second-largest manager of automated teller machines catering to over 32,000 ATMs. A spokesperson for AGS Transact said the company acknowledges stakeholder concerns regarding recent disclosures to the exchanges and their business and operational impact. Meanwhile, 27-year-old Bapina Panda …

Unpaid salaries, defaulted dues: How a cash crunch at AGS hit banks’ ATM ops
1 month, 1 week ago

Unpaid salaries, defaulted dues: How a cash crunch at AGS hit banks’ ATM ops

Live Mint  

A cash crunch at India's second-largest ATM manager AGS Transact has begun to impact cash dispensers of some of India's top domestic banks, after sparking defaults on bank loans, statutory payments and staff salaries. AGS Transact informed the exchanges on 4 and 5 February about credit rating downgrades by Crisil and India Ratings, followed by a detailed disclosure on its …

AGS Transact Technologies receives an order for 1,350 ATMs from SBI
1 year, 4 months ago

AGS Transact Technologies receives an order for 1,350 ATMs from SBI

Business Standard  

AGS Transact Technologies Limited, an integrated omni-channel payment solutions provider, announced that it has won an order for 1,350 ATMs from the State Bank of India A press release stated that the company received the order under its banking automation solutions portfolio. Stanley Johnson, executive director of AGS Transact Technologies Limited, said, “I am delighted to share that we have …

Govt asks Airtel, Vodafone Idea, others to pay balance AGR dues without delay: Sources
5 years ago

Govt asks Airtel, Vodafone Idea, others to pay balance AGR dues without delay: Sources

India TV News  

The government on Wednesday asked Bharti Airtel, Vodafone Idea and other telecom companies to pay remaining AGR dues as per the Supreme Court order without further delay, according to sources. The telecom department wrote to all telcos asking them to pay balance dues "without delay" and submit detailed bifurcation of payments, which it said are necessary for proper reconciliation of …

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