One 97 Communications Limited Announces Loan Waiver by Shareholder in FGTPL
March 27, 2026 – One 97 Communications Limited announced that its step-down subsidiary, First Games Technology Private Limited (FGTPL), has received approval from its shareholder, AGTech Media Holdings Limited (AGTech), to waive an outstanding loan.The loan waiver pertains to approximately ₹142 Crore, including accrued interest. FGTPL had previously discontinued its real money gaming business following regulatory changes. The Company had already fully impaired its investment and shareholder loan, therefore, this event has no adverse financial impact on One 97 Communications Limited.
AGTech holds 45% equity shares of FGTPL. This transaction qualifies as a related party transaction.
A loan agreement originally dated June 4, 2021, September 15, 2021, and April 13, 2022, detailed the advance of unsecured External Commercial Borrowings (ECBs) totaling ₹131.94 Crores from AGTech to FGTPL.
The amendment of the loan agreement was approved by FGTPL on March 27, 2026.
Table: Amendment of Loan Agreement Details
| Detail | Description |
|---|---|
| Parties | First GamesTechnology Private Limited ('FGTPL') and AGTech Media Holdings Limited ('AGTech') |
| Purpose | Loan Waiver by AGTech for loan and accrued interest |
| Amount | Approximately ₹ 142 Crores (Indian Rupees One Hundred Forty Two Crores) including accrued interest |
| Shareholding | AGTech holds 45% Equity shares of FGTPL |
| Relationship | FGTPL and AGTech are related parties by virtue of AGTech being a shareholder in FGTPL |
| Impact | No adverse financial impact on the Company |
| Loan Details | AGTech advanced unsecured External Commercial Borrowings ('ECBs') totaling ₹ 131.94 Crores to FGTPL |
Source:
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.