AGS Transact Technologies Ltd has failed to submit its audited standalone and consolidated financial statements for the quarter and financial year ended March 31, 2026, within the regulatory deadline of May 30, 2026. The delay impacts stakeholders awaiting clarity on the financial position of the company, which is currently undergoing insolvency proceedings.

The company attributed the delay to several operational and structural challenges. The Hon’ble National Company Law Tribunal, Mumbai Bench, initiated the Corporate Insolvency Resolution Process (CIRP) against the company via an order dated August 25, 2025. Additionally, the Committee of Creditors (CoC) approved the appointment of M/s. BSR & Affiliates as statutory auditors for FY 2024-25 through e-voting that concluded on December 12, 2025. The audit of the financial statements as of March 31, 2025, is currently underway, which has subsequently delayed the initiation of the audit for the pending quarters and the financial year ended March 31, 2026.

Operational and Governance Hurdles

The company cited significant resource constraints affecting its ability to finalize the accounts. There are personnel shortages across various departments, including the finance department. Furthermore, vacancies exist on the board of directors and the audit committee, hampering governance and oversight functions required for the timely approval of financial results.

A critical technical obstacle has also contributed to the delay. The company reported that its financial data software, SAP, is currently inaccessible due to a technical issue. Consequently, necessary financial information cannot be retrieved, stalling the preparation and audit processes.

Status of Proceedings

As of March 31, 2026, the company remains under CIRP. Creditors have submitted their respective claims in accordance with the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The company stated it is working to expedite the process to finalize and complete the preparation of the financial statements at the earliest.

AGS Transact Technologies Limited disclosed that its promoters have not created any encumbrance on their shareholdings during the financial year ended March 31, 2026. The company, currently under the Corporate Insolvency Resolution Process (CIRP) per an NCLT order dated August 25, 2025, received annual declarations from its promoter entities confirming zero pledging of equity shares.

The declarations were submitted in compliance with Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This regulation requires promoters to annually disclose the status of encumbrances on their holdings to ensure transparency for shareholders.

Ravi B. Goyal, a promoter of the company, confirmed that neither he nor any persons acting in concert (PACs) with him created any direct or indirect encumbrance over the company's shares during FY26. He further verified that as of March 31, 2026, none of the equity shares held by him were pledged or encumbered.

Similarly, Vineha Enterprises Private Limited, another promoter entity, declared that it and its PACs did not create any encumbrances during the financial year. The entity confirmed that its entire equity holding in AGS Transact Technologies Limited remained free of pledges as of the fiscal year-end.

The disclosures were formally communicated to the company's registered office in Mumbai. Brijendra Kumar Mishra, the Deemed Resolution Professional for AGS Transact Technologies Limited under CIRP, acknowledged the receipt of these declarations for record-keeping purposes.