Business Update27 March 2026 at 05:21 pm
Loan Waiver by Shareholder in First Games Technology; No Financial Impact on One 97 Communications
AI Summary
One 97 Communications Ltd. announced that its step-down subsidiary, First Games Technology Private Limited (FGTPL), received a loan waiver from its shareholder, AGTech Media Holdings Limited. The waiver is for an outstanding loan of approximately ₹142 Crore (Indian Rupees One Hundred Forty Two Crores) including accrued interest. FGTPL had discontinued its real money gaming business due to regulatory changes. One 97 Communications had already fully impaired its investment and shareholder loan, resulting in no adverse financial impact on the company.
Key Highlights
- Loan waiver by AGTech for loan and accrued interest to FGTPL
- FGTPL had discontinued its real money gaming business due to regulatory changes
- One 97 Communications had already fully impaired its investment and shareholder loan
- No adverse financial impact on the Company
- AGTech and FGTPL are related parties