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The Delhi High Court has ordered WazirX’s Singapore-based parent entity Zettai Pte Ltd to produce its acquisition documents with Binance and disclose restructuring scheme details.
The order dated August 5 mentioned that the next hearing related to this case is scheduled for August 26.
“Zettai is also directed to file the ‘restructuring scheme’, for which sanction has been sought from the Singapore High Court,” the order added.
WazirX was supposedly acquired by Binance in November 2019. However, Binance CEO Changpeng Zhao said in 2022 that his company did not acquire WazirX. Zhao’s statement came after the Enforcement Directorate froze WazirX’s assets worth INR 64.67 Cr in connection with a money laundering case.
In July last year, WazirX was hit by a major security breach resulting in loss of approximately $234.9 Mn.
(The story will be updated soon)
The post Delhi HC Orders WazirX Parent To Disclose Binance Acquisition Papers appeared first on Inc42 Media.
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