India, Dec. 15 -- Ecommerce giant Flipkart has received in-principle approval from the National Company Law Tribunal (NCLT) to shift its domicile back to India from Singapore, ahead of the company's anticipated IPO next year.

In an order dated December 12, the principal bench of the NCLT gave its sanction for a "Scheme of Merger by Amalgamation", allowing merger of Flipkart's overseas entities into Indian companies.

"In light of the foregoing facts and discussion, particularly the positions taken by the relevant authorities, and upon considering the approval granted by the members and creditors of all the transferee and transferor companies to the proposed scheme, there appears to be no impediment to sanctioning the scheme," said the NC...