WazirX Announcements

FAQ: What changes have been made to the Scheme of Arrangement? A: The only key change in the amended Scheme is when the Scheme becomes effective, Zanmai (FIU-IND registered) will now facilitate access to tokens on WazirX restart and manage WazirX operations, instead of Zettai. That's it. Everything else remains the same. You will receive all tokens as shown on your Rebalanced NLPA page. Zanmai will facilitate access to tokens within 10 business days from the effective date of the Scheme. All other benefits remain the same — including market upside, a share of potential future profits, and any additional recoveries.

📢 Revoting Timeline Is Here Revoting for the Amended Scheme of Arrangement will take place between: 30th July, 7:30 PM IST - 6th August, 7:30 PM IST If the requisite majority of creditors vote FOR the Scheme once again, the token distribution will start within 10 business days after the Scheme is effective, just as planned. Make your vote count once the voting begins 🙏

Following the Singapore Court’s approval to conduct a re-vote on the amended Scheme of Arrangement, we have outlined the next steps for all creditors. The next steps include issuing the amended Scheme of Arrangement and explanatory statement, followed by a Townhall and a re-vote. Voting dates will be announced next week. Read more about the next steps in detail 👉 https://wazirx.com/blog/wazirx-revote-update-next-steps-after-court-hearing/

📢 Update on Court Hearing The Singapore High Court has set aside its 4th June 2025 order in SUM 940, and has allowed a revote to be conducted based on an amended scheme. Zettai’s moratorium has also been extended. This decision follows further arguments presented by Zettai. Zettai is committed to completing the revote process as soon as possible. If the amended scheme is approved by the requisite majority of creditors and sanctioned by the court, it is contemplated that the WazirX platform will reopen, and Zanmai will be the entity facilitating distributions to creditors under the proposed scheme promptly. As we commence the revoting process, your vote will be instrumental in securing the approval of the scheme and moving forward with the First Distribution. Thank you for standing with us 🙏

📢 Update on Proposed Scheme of Arrangement As directed by the Singapore Court, we have filed the affidavit on 4 July 2025. As announced earlier, the hearing for further arguments in SUM 940 and OA 1284 is scheduled for 15 July 2025 at 7:30 AM IST (10:00 AM SGT), with a reserve date set for 16 July 2025, if needed. We are still awaiting details regarding attendance at the hearing and will share an update as soon as we receive more information from the Court. Thank you for your continued support and patience 🙏

📢 Update on Proposed Scheme of Arrangement The Singapore Court has scheduled the hearing for further arguments in HC/SUM 940/2025 on 15 July 2025 at 7:30 AM IST (10:00 AM SGT) with a reserve date set for 16 July 2025, if needed (instead of 10 July 2025, with 11 July 2025 as reserve). We are currently awaiting details regarding attendance at the hearing from the Court, and will share more information when the Court provides us with the details. Thank you for your continued support and patience 🙏

📢 Update on Proposed Scheme of Arrangement The Singapore Court has granted our request to present further arguments in our application for the Court's sanction of the proposed Scheme of Arrangement. Additionally, the Court has extended the moratorium granted in HC/OA 1284/2024 from 6 June 2025 until the disposal of the aforesaid further arguments. We are currently awaiting directions from the Court on the next steps and will keep you informed as soon as we have more clarity. Thank you for your continued patience and support. We remain committed to doing everything we can for our community 🙏

📢 Update on Proposed Scheme of Arrangement Following the Singapore High Court's decision to decline approval of our proposed scheme on 4 June 2025, we have submitted a request to present further arguments. We are committed to doing everything possible to find a solution that would be in the best interests of our users, and we will keep you updated whenever we can. For more information, please refer to our blog post 👉 https://wazirx.com/blog/update-on-scheme-of-arrangement/

The Honourable Singapore High Court issued an order declining to approve our proposed restructuring plan. While this outcome was not what we anticipated, we respect the Court’s decision and remain fully committed to complying with all legal and regulatory processes. Our primary focus remains to begin distributions as soon as possible. Towards this goal, we are currently evaluating all available legal options in consultation with our legal and advisory teams, and will be appealing against the decision of the Singapore High Court. Today’s decision does not impact the NLPA assets, which remain safe. WazirX has faced challenges before, and each time, we’ve come back stronger. More updates will follow in due course. We thank our community for their continued support and are committed to being fully transparent.

The Honourable Singapore High Court issued an order declining to approve our proposed restructuring plan. While this outcome was not what we anticipated, we respect the Court’s decision and remain fully committed to complying with all legal and regulatory processes. Our primary focus remains to begin distributions as soon as possible. Towards this goal, we are currently evaluating all available legal options in consultation with our legal and advisory teams. Today’s decision does not impact the Net Liquid Platform Assets, which remain safe. WazirX has faced challenges before, and each time, we’ve come back stronger. More updates will follow in due course. We thank our community for their continued support and are committed to being fully transparent.

📢 Update on Court Proceedings We’ve filed the additional affidavit(s) with all the documents as directed by the Singapore Court during the hearing on 13 May 2025. We understand the community’s anticipation around the platform restart and first distribution. Please know that we’re moving forward in line with the legal process and will continue to share timely updates as we receive directions from the Court. Thank you for your continued support and patience 🙏

📢 Update from Court Hearing The hearing for SUM 940 took place on 13 May 2025 before the Singapore Court. While no orders were made at this stage, the Court has directed the Company to file a further affidavit(s) by 23 May 2025, and extended the existing moratorium to 6 June 2025. The Court has not yet set another hearing date. The Court will likely make any decision with respect to SUM 940, which includes determining if another hearing is necessary, following the receipt and assessment of the Company’s affidavit(s) due 23 May 2025. We know many of you are eagerly waiting for the platform restart and first distribution. Please be assured that we are doing everything we can to make this possible under an effective Scheme, and we’ll continue to keep you informed when we receive directions from the Court. Thank you for your continued support and patience 🙏

FAQ: What is ''SUM 940'' and how does it impact the platform’s restart timeline? A: ''SUM 940'' refers to the legal application Zettai filed in the Singapore High Court to seek formal approval (or sanction) for the Scheme of Arrangement after the voting concluded. It’s a standard and necessary step in the restructuring process. This step isn’t causing any delay—it’s part of the planned timeline. As shared earlier, the Scheme needs to be legally sanctioned by the Court before distributions and platform restart can begin. The Court has scheduled the hearing for 13 May 2025, and we're moving forward in line with that timeline.

FAQ: What’s the current update on the restart of WazirX operations? A: We understand the eagerness around the platform restart and truly appreciate your continued patience. Since the beginning, we have communicated that the First Distribution and restart would occur within the April–May 2025 window. Zettai has completed all prior required steps, and the next key step is the sanction hearing, which the Singapore High Court has scheduled for 13 May 2025. This hearing is essential for the Scheme to become legally effective. While we’ve worked to stay aligned with the previously shared timelines, court proceedings operate independently, and we respect that process. After the Scheme is sanctioned, the First Distribution and restart will follow within 10 business days from the Effective Scheme Date, as outlined earlier.

📢 Update on Restructuring Process The Sanction Application has been filed with the Singapore Court. Following the filing, the Court has scheduled the hearing for 13th May 2025. This marks an important step forward in our restructuring journey while staying on track with the timelines shared earlier. The Scheme will become effective once sanctioned by the Court and filed with the authorities, paving the way for the First Distribution within 10 business days. Thank you for your continued patience and support 🙏

📢 Update on Scheme of Arrangement Voting 93.1% of voting creditors, representing 94.6% in value, have voted YES to the Scheme of Arrangement. This strong support marks an important milestone in the recovery process and reflects a shared belief in the proposed restructuring plan. To ensure full transparency, all votes have been independently verified by the appointed Independent Assessors. Zettai is shortly to file an application with the Singapore Court for the sanction of the Scheme - the next step towards making the Scheme legally effective. Read the full update here 👉 https://wazirx.com/blog/update-on-scheme-of-arrangement-voting/

With voting for the Scheme of Arrangement now complete, we sincerely thank everyone who participated and cast their vote. Next up is verification by the Independent Assessor, followed by a hearing at the Singapore Court. These steps will determine the path forward for distributions, trading, and Recovery Tokens. Read about the next steps in detail 👉 https://wazirx.com/blog/wazirx-scheme-voting-ends-whats-next/

📢 Voting for the Scheme of Arrangement has officially concluded. A heartfelt thank you to everyone who took the time to cast their vote. Your participation and continued support mean a lot. Next, all votes will be submitted to an Independent Assessor for verification, ensuring transparency and integrity in the process. Stay tuned for further updates 🙏

🗳️ Reminder: All Scheme Creditors can cast their vote for the Scheme of Arrangement via the WazirX app or website before 6 PM IST on 28th March 2025. Read here to know how to vote for the Scheme of Arrangement 👉 https://wazirx.com/blog/how-to-vote-for-the-scheme-of-arrangement/

All Scheme Creditors can cast their vote for the Scheme of Arrangement via the WazirX app and website.