The Delhi High Court has ordered Zettai Pte Ltd, the operator of WazirX, to disclose details about its agreement with Binance and its restructuring plan.
Court Order on WazirX
On August 5, 2025, Justice Sachin Datta issued an order requiring Zettai Pte Ltd to file a copy of its agreement with Binance within one week. The court also asked for all relevant documents regarding restructuring proceedings in Singapore.
Ownership and Restructuring Issues
This directive follows a revote on the amended restructuring plan for WazirX, which was rejected by the Singapore High Court. Creditor concerns about transparency in the restructuring process continue, and clear answers are sought regarding ownership and recovery plans. The confusion surrounding Zettai’s link with Binance has worsened the situation.
Investigation Request for the Hack
In October 2024, two WazirX creditors approached the court demanding accountability for the handling of the $235 million hack. Their lawyers are advocating for the formation of a Special Investigation Team consisting of experts to ensure a thorough investigation.
The recent court order signals a move toward greater transparency in India's crypto industry and may serve as a wake-up call for tighter regulations following one of the sector's largest hacks.
