WazirX's Parent Firm to Revote on Amended Scheme Starting July 30

WazirX's parent company Zettai will allow users in India to revote on an amended scheme of arrangement from July 30 to August 6 after the Singapore High Court rejected the previous plan. Eligible users will be able to recast their votes for the amended scheme, and the results will be independently verified by an Independent Assessor. If the scheme is approved by a majority of its eligible users, the company will make an application before the Singapore High Court for the approval of the amended scheme.

WazirX's parent company, Zettai Pte Ltd, has been granted permission by the Singapore High Court to allow users in India to revote on an amended scheme of arrangement. The voting process will commence on July 30 and conclude on August 6, 2025, providing eligible users the opportunity to recast their votes for the updated plan.

The revote follows the Singapore High Court's decision to revoke its previous order of June 4, 2025, which had rejected the initial restructuring plan. The court accepted Zettai's new legal arguments and extended the moratorium until September 16, 2025, allowing the company more time to execute the amended plan [1].

Before the voting begins, Zettai will release the updated Scheme of Arrangement along with a revised Explanatory Statement. These documents will detail the amendments and provide creditors with clear insights into the updated rescue strategy. A live town hall session will also be conducted to address creditor queries and offer clarity on the new plan [2].

The voting results will be independently verified by an Independent Assessor, ensuring transparency and integrity in the process. If the scheme is approved by a majority of its eligible users, Zettai will apply to the Singapore High Court for the approval of the amended scheme. Upon final court ratification, Zanmai India, Zettai's Indian subsidiary, will begin distributing funds to creditors within ten business days of the scheme's effectiveness [3].

This revote is a crucial step in WazirX's efforts to restart the platform and facilitate fund distributions to affected users. A favorable vote will enable the Singapore Court to consider sanctioning the amended Scheme, initiating the First Distribution to Creditors, and restarting the WazirX platform.

References:
[1] https://wazirx.com/blog/wazirx-revote-update-next-steps-after-court-hearing/
[2] https://www.business-standard.com/companies/news/wazirx-parent-to-launch-revote-on-amended-scheme-july-30-125072401307_1.html
[3] https://blockchainreporter.net/wazirx-creditors-to-revote-on-rescue-plan/