Pine Labs Limited Subsidiary to Initiate Voluntary Strike-Off Process
Mumbai – March 27, 2026 – Pine Labs Limited announced today that its wholly-owned subsidiary, Mopay Services Private Limited (MSPL), has initiated the process of voluntary strike-off from the register of companies. The decision was approved by MSPL’s shareholders during a meeting held on March 27, 2026.MSPL is not currently engaged in any business operations and has no activity. The move aims to streamline the group structure and reduce administrative and compliance overheads. The company will file an application with the Registrar of Companies under Section 248 of the Companies Act, 2013, to remove MSPL from the register.
The dissolution is subject to approval from the Registrar of Companies, with the process expected to be completed within 2 to 3 months. Upon completion, MSPL will cease to be a subsidiary of Pine Labs Limited. The company stated that the strike-off is not expected to have a material impact on its financial position or operations.
According to information provided, MSPL's contribution to the company on a standalone basis was Nil (0.00% contribution) for turnover in fiscal year 2024-25 and negative (Rs. 29,000) (0.01% contribution) for net worth as of fiscal year 2024-25.
| Sr No | Particulars | Information of such event |
|---|---|---|
| 1 | The amount and percentage of the turnover or revenue or income and net worth contributed by such unit or division or undertaking or subsidiary or associate company of the listed entity during the last financial year | On standalone basis the contribution of this Wholly Owned Subsidiary is as under: Turnover for FY 2024-25: Nil (0.00% contribution) Net worth as of FY 2024-25: (Rs. 29,000) (0.01% contribution) |
| 3 | The expected date of completion of sale/disposal | The strike-off may take 2 to 3 months, subject to approval from authorities. |
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