New Delhi, Dec. 15 -- Walmart-controlled Flipkart received a key approval to shift its domicile back to India, a prerequisite for a local listing, in a move that reflects a shift in India-US economic ties amid prolonged bilateral trade negotiations.

The National Company Law Tribunal (NCLT) approved the re-domiciling scheme on Friday, according to an order reviewed by Mint.

The restructuring is fair and not prejudicial to the interests of shareholders or creditors, the tribunal said, while clearing India-based Flipkart Internet Pvt. Ltd's intra-group amalgamation scheme involving eight Singapore-incorporated entities. The combined entity will be called Flipkart Internet Pvt. Ltd.

The NCLT approval for re-domiciling follows the Singapore...