Atyati Technologies to transfer JLG business unit to TVAM Technologies

BLS International Services that the board of directors of Atyati Technologies (ATPL), a step down subsidiary of the company at their meeting held on 28 September 2026 has considered and approved to enter into a Business Transfer Agreement (BTA) with TVAM Technologies (TVAM), for the sale and transfer of Joint Liability Group-Financial Lending Business (JLG Business Undertaking) of ATPL on a going concern basis through a slump sale for a consideration of Rs 59.49 lakh.

TVAM is a private company in which a director of ATPL is a Director and Member. Therefore, TVAM is a related party of ATPL. TVAM is engaged in the business of providing financial services including but not limited to banking, lending, insurance and wealth management to its customers, through an application which can be downloaded and accessed by the customers.

The proposed transaction forms part of the company's broader business re-organisation and operational restructuring initiatives. The transfer of the JLG Business Undertaking of ATPL to TVAM is intended to streamline business operations, optimise deployment of resources and enable greater strategic and operational focus through an appropriate business structure.