Corporate News     30-Jun-22
AGS Transact Technologies approves conversion of loan to equity in subsidiary
AGS Transact Technologies has on 29 June 2022 approved investment in the form of equity in its wholly owned subsidiary (WOS) i.e. India Transact Services (ITSL) upto Rs. 10 crore in lieu of loan granted to the said WOS.

ITSL is a Prepaid Instrument Issuer Entity (PPI Issuer) and is required to maintain networth of Rs. 15 crore at all times pursuant to applicable RBI guidelines. This investment is being made to ensure maintenance of such net worth criteria for ITSL.

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