- The revote follows a Singapore court’s approval after overturning a June 2025 decision.
- Voting begins July 30 and ends August 6, with results verified by an Independent Assessor.
- If approved, creditor repayments and WazirX’s relaunch will start within 10 business days post-court ratification.
In a recent announcement concerning WazirX’s ongoing revival efforts, creditors will vote again on an amended Scheme of Arrangement. Confirmed via an X, the voting window is set to begin on July 30 at 7:30 PM IST and will end on August 6 at 7:30 PM IST.
This fresh round of voting follows a recent court ruling allowing Zettai Pte Ltd to conduct a second vote, giving creditors another chance to approve the revised plan that could lead to the crypto platform’s relaunch and repayment to creditors.
Singapore High Court Allows Revote After June Decision Revoked
As recently reported by Blockchain reporter, the Singapore High Court granted Zettai permission to proceed with a new vote after revoking its earlier decision dated June 4, 2025. This action came after Zettai presented new legal arguments, which led the court to accept changes in the previously approved scheme. As a result, the moratorium on Zettai has been extended until September 16, 2025, giving the company more time to execute the amended plan without legal interruption.
Ahead of the voting process, Zettai will release the updated Scheme of Arrangement along with a revised Explanatory Statement. These documents will detail the amendments and give creditors clear insights into the updated rescue strategy. A live town hall session will also be conducted to answer creditor queries and offer clarity on how the new plan is expected to accelerate repayments and enable the platform’s relaunch.
Voting Process and Outcome Verification
Once the voting begins on July 30, creditors will have one week to cast their votes. The results will then be verified by an Independent Assessor. After verification, the results will be shared with Zettai and the Scheme Manager. If the required majority approves the scheme, Zettai will request final court ratification before initiating the next phase.
If the High Court grants final approval following the vote, Zettai’s Indian arm, Zanmai India, will begin distributing funds. The initial distribution will take place within ten business days after the scheme becomes effective. This marks a crucial step in returning funds to affected creditors and bringing WazirX back into operation.
Zettai has been keen to observe that the scheme cannot be functional and full on the platform without the agreement of the creditors. This revote is the final step toward the company being able to implement its plan to restart WazirX and have repayments to the creditors. In the event of its approval, Zettai will be able to speed up funding and re-launching of trading on the platform on a stage-by-stage and sane basis.
