Pine Labs gets Singapore court nod to move base to India

Pine Labs has received approval from a Singapore court to merge its Singapore-based entity, Pine Labs Limited, with its Indian company, Pine Labs Private Limited.

The approval allows Pine Labs to transfer all its assets and properties to its Indian unit, enabling the firm to consolidate its operations in India, TechCrunch reported, citing filings made by Pine Labs.

As a result of this merger, all shareholders of the Singapore entity will become shareholders of Pine Labs Private Limited, as per a report by Entracker. Additionally, any ongoing legal proceedings involving Pine Labs Limited will be continued by Pine Labs Private Limited after the merger.

An earlier report by ET revealed that Pine Labs had filed an application with the National Company Law Tribunal (NCLT) for a reverse merger. Once the NCLT rules with the Registrar of Companies, Pine Labs Limited will be dissolved without the need for a winding-up process, the report added.

YourStory has reached out to Pine Labs for a comment

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