India, Jan. 13 -- The National Company Law Tribunal (NCLT) has reportedly approved the merger of Mumbai-based Kiranakart Technologies, which operates the quick commerce platform Zepto, with its Singapore-based affiliate, Kiranakart Pte Ltd.

Following the NCLT order, Zepto becomes an Indian company with no opposition to the cross-border amalgamation of the two entities.

Kiranakart Technologies Private Limited is the Indian entity operating Zepto, while its Singaporean holding company is Kiranakart PTE LTD.

According to The Arc, Zepto will not require a no-objection certificate (NOC) from the Reserve Bank of India (RBI), per the NCLT order. The tribunal noted that the RBI has not raised any objections, and since the Scheme of Arrangement...