WazirX, one of India’s leading cryptocurrency exchanges, has recently communicated important updates regarding its ongoing restructuring process through an email sent to its users. This email outlines the next steps the team will be undertaking as part of the restructuring efforts. A significant session on the Moratorium Application is scheduled for September 25, 2024, at 8:00 IST. This hearing will take place on the Zoom platform, and the exchange has urged its creditors to complete their registration and confirm participation via the WazirX application.
Creditor Support Vital for Restructuring
While the Singapore High Court has yet to issue a decision on the cramdown proposal, WazirX has initiated a new poll for creditors regarding the restructuring plan. Creditors are required to confirm the date they received the copy of the Moratorium Application and indicate their stance on the proposal—whether they support it, oppose it, or have no objection to it. WazirX emphasizes the importance of creditor participation, as it will directly impact the case’s decision-making process. The survey will remain open until September 21, 2024.
The Second WazirX Townhall Meeting
WazirX is set to host its second townhall meeting on September 16, 2024. During this session, the exchange will present a comprehensive report on the draft restructuring proposal. Creditors will have the opportunity to ask questions, particularly those who have pre-submitted their queries via a Google Form that will be made available. The event will be streamed live on YouTube, allowing creditors to participate in the Q&A session.
WazirX reassures its users that all crypto and fiat balances remain secure. The ongoing restructuring process aims to ensure a fair and legal resolution for all parties involved.
