Singapore Court sanctions WazirX restructuring scheme
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Nischal Shetty, founder of WazirX
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Zettai Pte Ltd, the parent company of cryptocurrency exchange WazirX, has received formal approval from Singapore’s High Court for its creditor-backed restructuring plan, as announced on Monday. The court endorsed the modified scheme following creditor consensus.
WazirX founder Nischal Shetty confirmed operations will resume within 10 business days after the scheme takes legal effect, stating: “To everyone who stood by us with patience and belief.”
The decision follows an August revote where 95.7% of participating creditors, representing 94.6% of the total claim value, reaffirmed support for the restructuring. The arrangement facilitates recovery of compromised assets valued at approximately $234.9 million (₹2,000 crore).
Zettai will now submit the court order to Singapore’s Accounting and Corporate Regulatory Authority (ACRA). Platform reactivation and digital asset distributions to eligible creditors will commence within 10 business days of the scheme’s implementation. All affected parties will receive formal notifications regarding procedural timelines and documentation requirements.
Upon relaunch, WazirX will prioritize enhancing India’s cryptocurrency infrastructure and has engaged BitGo, a prominent digital asset custody specialist, to implement strengthened security protocols for customer funds.
Published on October 13, 2025
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