Pine Labs gets NCLT nod to reverse flip Singapore entity

Digital payments firm Pine Labs has secured the nod from the National Company Law Tribunal (NCLT) to merge its Singapore entity with its India entity, thereby reverse flipping its parent entity back to India.

Pine Labs becomes the second major fintech company after Groww to reverse flip its parent entity to India in recent times. Another fintech firm, Razorpay, is currently in the process of reverse flipping its holding entity to India from the United States.

In an order issued on April 9, the Chandigarh-bench of the NCLT said that Pine Labs has taken…