Overview

• The Delhi High Court directed Zettai Pte Ltd to submit its acquisition agreement with Binance and all Singapore High Court filings by mid-August, reinforcing demands for transparency in WazirX’s governance
• This order follows the conclusion of a second creditor vote on Zettai’s amended restructuring plan, with results now under independent verification by Alvarez & Marsal
• Creditors led by Sudhir Verma and Kunal Dhariwal have petitioned for a Special Investigation Team to probe the July 2024 hack that drained $235 million from WazirX user funds
• Binance continues to deny any ownership or control over WazirX despite signing an initial contract in 2019 as courts seek to clarify the companies’ relationship
• The next court hearing on August 26 will review the disclosed documents and will require Reserve Bank of India officials to attend