NCLT Approves Slice and North East Small Finance Bank Merger

Fintech company Slice has received approval from the National Company Law Tribunal (NCLT) for its merger with North East Small Finance Bank. The Guwahati bench of the NCLT has sanctioned the scheme of arrangement and amalgamation involving several entities, including Garagepreneurs Internet, Quadrillion Finance, Intergalactory Foundry, RGVN (North East) Microfinance, and North East Small Finance Bank.

Merger Details

Approved Entities: Garagepreneurs Internet, Quadrillion Finance, Intergalactory Foundry, RGVN (North East) Microfinance, and North East Small Finance Bank.

Key Players: Slice (fintech company) and North East Small Finance Bank.

Objective: To combine Slice’s digital expertise with North East Small Finance Bank’s banking proficiency.

Next Steps

Both organizations will work towards a smooth transition, ensuring that customers, employees, and stakeholders experience minimal disruption. They aim to uphold high standards of service and support throughout the process.