Pine Labs Gets NCLT Approval to Reverse Flip Singapore Entity

Digital payments firm Pine Labs has received approval from the National Company Law Tribunal (NCLT) to merge its Singapore-based entity with its Indian operations, marking a significant reverse flip back to India.

In an order dated April 9, the Chandigarh bench of the NCLT confirmed that Pine Labs had obtained all necessary clearances from statutory and regulatory bodies in India. The merger now awaits required approvals from Singapore authorities to be fully enforced.

This move positions Pine Labs as the second major fintech player, after Groww, to shift its parent entity back to India. Razorpay is also in the process of executing a similar reverse flip from the United States.7j

With the restructuring cleared, Pine Labs plans to initiate its listing process on Indian stock exchanges in the latter half of 2025. CEO Amrish Rau recently reiterated the company’s focus on pursuing its billion-dollar IPO despite broader market volatility.

Backed by Peak XV Partners, Pine Labs was last valued at $5 billion following a $50 million funding round in 2022 from Vitruvian Partners. Founded in 1998, the company began with a focus on offline point-of-sale payment solutions and has since expanded into the online payments segment.

SC Takes Note of Child Safety in Digital Space, Seeks Govt Response on Age Verification Proposal

The Supreme Court has directed the Central Government to examine a proposal submitted by the ZEP Foundation calling for mandatory age verification and a statutory ban on social media access for children below the age of 16 or 18.

The direction came in response to a writ petition filed by Dr. Rekha Chaudhary, founder of the ZEP Foundation and an advocate for digital wellness. A bench of Justices BR Gavai and Augustine George Masih acknowledged the policy concerns raised in the petition and granted the Centre an eight-week timeline to respond.

The petition flagged serious loopholes in the existing self-declared age checks on digital platforms and the lack of robust mechanisms in the Draft Digital Personal Data Protection Rules, 2023. It urged the adoption of enforceable, tech-based age-verification systems to shield minors from harmful content and addictive online behaviour.

The Court also condoned the delay in filing, recognised the urgency of the issue, and allowed the petitioner to formally submit a detailed representation to the government.

“In today’s digital age, safeguarding our children’s mental and emotional well-being is paramount,” said Dr. Chaudhary. “Implementing stringent age verification for social media access is a crucial step toward creating a safer digital environment for our youth.”

The ZEP Foundation is known for its work through World Digital Detox Day, an initiative now in its 16th year and active in over 70 countries. The movement advocates for digital fasting, education, and awareness around the psychological and social impact of screen exposure, particularly on children and families.

Allahabad High Court Sends Lawyer to Jail for Calling Judges ‘Goondas’

The Allahabad High Court has sentenced Advocate Asok Pandey to six months’ simple imprisonment and imposed a fine of ₹2,000 after finding him guilty of criminal contempt for using abusive language in court and referring to judges as “goondas” during a 2021 hearing.

A division bench of Justices Vivek Chaudhary and Brij Raj Singh also issued a show-cause notice asking Pandey why he should not be barred from practicing before the High Court for three years.

The Court said Pandey had exhibited repeated disregard for judicial decorum over the years. It cited several past instances between 2003 and 2017 where Pandey showed disrespect to the judiciary. “Such repeated misconduct shows the contemnor is not merely misguided but intentionally undermining the authority of this Court,” the bench observed.

The contempt stemmed from an incident on August 18, 2021, when Pandey appeared before Justices Ritu Raj Awasthi and Dinesh Kumar Singh in civilian clothes with his shirt unbuttoned. When advised to dress appropriately, he refused, questioned the Court’s directive, and went on to call the judges “goondas.” The Court noted that Pandey had disrupted proceedings and used abusive language in front of others present.

Another disruption by Pandey had occurred two days earlier, on August 16, where he again entered the courtroom in improper attire, made loud remarks, and insisted on being heard as a representative of the Awadh Bar Association.

Despite being given a chance to apologise in 2021, Pandey did not express remorse. The present bench noted that he had failed to respond to the specific charges, had submitted no affidavit or explanation, and had continued to disregard the Court’s authority.

“The contemnor has no defense to offer and remains recalcitrant and unrepentant,” the Court concluded, also noting that Pandey had previously been barred from entering the Court premises for two years in another contempt case.

Pandey has been directed to surrender before the Chief Judicial Magistrate, Lucknow, within four weeks to serve the sentence. If he fails to pay the fine within a month, he will have to serve an additional month in prison.

The matter is listed for further hearing on May 1 to decide whether Pandey should be barred from practicing before the High Court for three years.