Pine Labs has achieved a key milestone with the National Company Law Tribunal (NCLT) approving its initial request to merge its Indian and Singapore entities.
This approval marks a significant step for the payments company, which is shifting its headquarters from Singapore back to India. The 'first motion' plea, initially filed on March 1, 2024, faced multiple delays but was finally approved on August 12, 2024. Pine Labs can now organize a stakeholders' meeting to secure necessary votes for the merger to proceed.