Singapore Court Approves New Vote on WazirX Rescue Plan

• Singapore High Court allows Zettai new vote to rescue troubled WazirX.

• Creditors offered fresh chance to approve plan reviving WazirX crypto platform.

• Positive vote clears way for WazirX relaunch and repayments to creditors soon.

The Singapore High Court has given Zettai Pte Ltd permission to hold a new vote on its amended Scheme of Arrangement. This means creditors will have another chance to decide on the future of the WazirX crypto platform. The new decision changes an earlier June 4, 2025 court decision. It also puts the moratorium on Zettai till September 16, 2025.

High Court Clears Path for Fresh WazirX Revival and Payouts

This move is a significant step by Zettai and its attempt to rebuild WazirX. The company is hoping to do a relaunch of the platform and put back money to the creditors, as soon as possible. The High Court consented to revoke its previous order after hearing fresh legal arguments formulated by Zettai. Currently, the creditors have a chance to vote on a new version of the rescue plan that might restore WazirX.

After the approval granted by the court, Zettai will now concentrate on the next steps. To begin with, the company will share a revised Scheme of Arrangement. It will not only supplement its Explanatory Statement. This will enable the creditors to know the changes and new proposals in the amended plan.

Zettai will then conduct a live townhall to creditors. In this session, creditors will also be given details about the modified Scheme. They will get the opportunity to ask questions and know how the plan would allow them to accelerate distributions and revive the platform.

Following the townhall, creditors will approve the modified Scheme through vote. Zettai is wishing that the plan will be accepted by the creditors once again. According to the company, a positive vote will enable it to advance certain funding quicker and restore the platform into operation.

As soon as the voting is over, the procedure does not terminate. All the votes will be checked and verified by an Independent Assessor. Then, the outcomes will be directed to Zettai and the Scheme Manager. After this, Zettai will obtain the leave of the High Court to ratify the altered Scheme. The court is free to conduct a final decision by holding another hearing.

Creditors’ Revote Crucial for WazirX Relaunch and Fund Recovery

If the court gives its final approval, The initial payment will be carried out by Zettai Indian arm, Zanmai India. These initial payments to creditors will begin within ten business days after the new Scheme comes into effect. This is necessary in that it indicates to the creditors that efforts are underway.

Such a revote is important since it affirms that creditors accept the new plan. The court desires to ensure that there is concurrence between the changes by the creditors to give its final approval. An effective vote will enable Zettai to relaunch WazirX in an orderly and equitable manner.

The bailout strategy has provided creditors with the optimism that their money will be retrieved. It is also an indication that WazirX can be resurrected rather than being closed down permanently. The new Scheme entails an equitable schedule of payout and reopening of the platform gradually.

Zettai is optimistic that creditors will be very supportive once more. In case the vote is approved, it will pave the way to the final decision of the court and the resumption of the trading of WazirX. This would give a sigh of relief to a number of users who have been waiting to get back their money as the platform goes online again.