Paytm Unit Sees ₹142 Crore Loan Waiver By Shareholder With No Financial Impact
· Free Press Journal
Noida: Paytm’s parent company has disclosed a significant balance sheet adjustment at its subsidiary level, even as it maintains that the move does not affect its own financial position.
Loan Waiver Approved
First Games Technology Private Limited (FGTPL), a step-down subsidiary, has amended its loan agreement with shareholder AGTech Media Holdings Limited. Under this change, AGTech has agreed to waive an outstanding loan of approximately Rs 142 crore, including accrued interest, as detailed in the filing on page 1.
Visit asg-reflektory.pl for more information.
Breakup Of Exposure
The waived amount includes unsecured external commercial borrowings originally totaling Rs 131.94 crore, extended across multiple agreements dated June 4, 2021, September 15, 2021, and April 13, 2022. The total waiver rises to about Rs 142 crore after accounting for accumulated interest, as outlined in Annexure I on page 3.
Paytm Launches 'Paytm Silver' For Savings From ₹20Linked To Business Exit
The subsidiary had already discontinued its real money gaming business following regulatory changes. As a result, the parent company had fully impaired its investment and shareholder loan exposure earlier, which explains why the waiver does not translate into any fresh financial gain or loss.
No Impact On Parent
The company clarified that there is no adverse financial impact from this transaction. It also noted that AGTech holds 45 percent equity in FGTPL, making the arrangement a related party transaction conducted within existing shareholder relationships, as described in the annexure on page 2. The development reflects a clean-up of legacy financial exposure at the subsidiary level while leaving the parent company’s financial position unchanged.
Disclaimer: This article is based solely on the contents of the referenced corporate filing and does not include any external reporting, analysis, or independent verification.