Nazara Technologies Limited announced that the Hon'ble National Company Law Tribunal (NCLT), Mumbai Bench, has permitted the withdrawal of the proposed Scheme of Amalgamation of its wholly-owned subsidiary, Paper Boat Apps Private Limited, with Nazara Technologies Limited. This withdrawal follows an earlier decision by Nazara's Board of Directors on May 12, 2026, to revoke the amalgamation proposal. The decision was attributed to changes in the company's restructuring plans. The NCLT's order allowing the withdrawal was made available on the NCLT website on July 7, 2026. The National Company Law Tribunal, Mumbai Bench II, in its order dated June 18, 2026, allowed Company Application/162/2026, dismissing Company Application No. 37/2025 as withdrawn, based on the statement made by the applicant's counsel not to proceed further.
