NCLT allows withdrawal of Paper Boat Apps amalgamation scheme

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NAZARA · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

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₹300.00

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AI summary

NCLT Mumbai has allowed Nazara Technologies' application to withdraw the Scheme of Amalgamation with its wholly owned subsidiary Paper Boat Apps Private Limited. The Board had approved the withdrawal on May 12, 2026 due to changes in restructuring plans. Paper Boat Apps will continue to remain a separate wholly owned subsidiary of Nazara going forward.

Likely market impact

Paper Boat Apps stays as a separate subsidiary. Earlier merger plan is off the table; no structural change for shareholders now.