NCLT Bengaluru sanctions amalgamation of Oust Labs India and MServ Technologies into Betterplace Safety Solutions with appointed date of April 1, 2024.
Tribunal approves scheme after reviewing reports from ROC, Official Liquidator, and Income Tax Department, with petitioner companies providing undertakings on compliance.
Betterplace Safety Solutions undertakes to settle statutory dues, protect employee interests, and comply with FEMA/RBI regulations post-amalgamation.
The order clarifies no exemption from stamp duty, taxes, or other statutory requirements, and directs compliance with Income Tax Act provisions.