Crypto exchange WazirX, one of the most famous among Indian crypto exchanges, has reported crucial data on the current restructuring process via an email to its users.
The email sheds light on the further action the team will be taking for the restructuring process. A session on the Moratorium Application is coming up on September 25 2024, at 8:00 IST. The meeting of the hearing is scheduled for the Zoom platform, and the exchange has prompted creditors to fill out their registration and confirm their participation through the WazirX application.
Creditor Support Vital for Restructuring
Although the Singapore High Court has not yet ruled on the cramdown proposal, WazirX has released a new poll for creditors on the restructuring plan. Applicants must also confirm the date on which they received the copy of the Moratorium Application and tick whether they are in support of it, against it or have no objection to it.
Participation was underlined by WazirX because this directly influences the decision-making of the case. The survey will be available until the 21st of September, 2024.
The Second WazirX Townhall Meeting
WazirX is to hold a second meeting on September 16th. During the session, the exchange will provide a detailed report of the draft restructuring proposal that it will offer. Creditors will be allowed the opportunity to ask questions, and questions will especially be directed at those creditors who have filled out the Google Form that will be made available, where they will indicate the questions they wish to ask.
The event will be broadcast on YouTube, and creditors will be allowed to ask questions and participate in the Q&A session. Finally, WazirX has confirmed that all users’ crypto and fiat balances remain secure, stressing that the ongoing process is aimed at ensuring a fair legal solution for all the parties involved.
