Creditors of the troubled crypto exchange WazirX have until 7:30 PM IST today to vote on the Amended Scheme, a revised plan that aims to sort out pending claims and help users recover part of their stuck assets.
This is the second round of voting, triggered after key regulatory and structural changes were made to the original plan earlier this year. The process is being conducted through Kroll Issuer Services (KIS), a third-party platform that specializes in secure, independently monitored corporate actions. Each vote is authenticated, timestamped, and stored in a tamper-proof system.
Once the voting window closes, the full dataset will be submitted to two independent assessors: Joshua Taylor of Alvarez & Marsal Pte Ltd, and Henry Anthony Chambers of Alvarez & Marsal Disputes and Investigations Limited. They’ll review the entire voting process to ensure everything is in order. Once that is done, the verified results will be sent to Zettai and the Scheme Manager, as per their blog.
If enough creditors have voted in favor, Zettai will take the next step and apply to the Singapore Court to get the Scheme approved.
If the court gives the green light, the Scheme becomes final and binding for everyone, whether they voted or not. According to the updated terms, Zanmai Labs — a Financial Intelligence Unit–India (FIU-IND) registered entity will facilitate access to tokens within 10 business days from the effective date, should the court approve the arrangement.
The updated scheme also ensures that creditors retain eligibility for future recoveries and market upside, as outlined in the rebalanced Net Liability Position Agreement (NLPA). It has also been clarified that votes cast during the initial round held in March 2025 will not be considered. Only those submitted during the current voting period will count.
The outcome of today’s vote will determine whether the proposed resolution process can proceed to its final legal stage. A formal announcement is expected following verification of the vote and submission to the court. Creditors have been advised to follow only official communication channels for updates related to the scheme.
Also Read: Is a Key Signature Still Holding Back WazirX’s Recovery Plan?
