AGS Transact Technologies has informed that a petition has been filed under section 9 of Insolvency and Bankruptcy Code, 2016 (“IBC”) by M/s. Maxwel Aircon India, Operational Creditor of the Company, before the National Company Law Tribunal -Mumbai Bench (NCLT, Mumbai) alleging default in payment of principal and interest and seeking initiation of Corporate Insolvency Resolution Process (CIRP) against the Company. The Company is seeking appropriate legal advice and taking all appropriate steps to protect its interest in the aforesaid matter.
The above information is a part of company’s filings submitted to BSE.
