AGS Transact Technologies faces insolvency over alleged unpaid dues: stock hits 5% lower circuit

Stock Market Today: Stock Market Today: `AGS Transact Technologies share price hit stock hits 5% lower circuit during the intraday trades on Monday. The company has intimated exchanges about a creditor filing an application before the NCLT- Mumbai Bench under section 9 of Insolvency and Bankruptcy Code

AGS Transact Technologies faces insolvency over unpaid dues

AGS Transact Technologies in its intimation to the National Stock Exchange of India Ltd (NSE) and BSE Ltd said that “we wish to inform you that a petition has been filed under section 9 of Insolvency and Bankruptcy Code, 2016 (“IBC”) by M/s. Maxwel Aircon India Private Limited, Operational Creditor of the Company, before the National Company Law Tribunal – Mumbai Bench (“NCLT, Mumbai”) alleging to default in payment of principal and interest and seeking initiation of Corporate Insolvency Resolution Process (CIRP) against the Company.

AGS Transact Technologies said that it is seeking appropriate legal advice and take all appropriate steps to protect its interest in the aforesaid matter.

Intimation by AGS Transact Technologies of filing of an application before the National Company Law Tribunal- Mumbai Bench under section 9 of Insolvency and Bankruptcy Code, 2016 was dated on Saturday 01, March 2025

AGS Transact Technologies share price movement

Following the same AGS Transact Technologies share price opened at ₹19.07 on the BSE on Monday. The opening price of AGS Transact Technologies shares was 5% lower than the previous days closing price of ₹20.01. The AGS Transact Technologies share price thereafter contineud to same levels as the price pf RS 19.07 was also the lower price band of the AGS Transact Technologies share price. The AGS Transact Technologies share price thereby was locked in the lower circuit following intimated to the exchanges about a creditor filing an application before the NCLT- Mumbai Bench under section 9 of Insolvency and Bankruptcy Code

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