WazirX’s week-long voting for its 4.4 million customers is ready to finish at present at 6 pm IST. The voting, which started on March 19, will decide the platform’s future restructuring plans.
Nonetheless, customers have restricted selections, with WazirX administration warning that rejecting the restructuring proposal may result in additional suspension of funds which have been caught for over 9 months.
As soon as the voting concludes, a three-day hole will observe earlier than a third-party auditor begins assessing the votes. The outcomes of the vote can be introduced on April 8. Amidst the continuing points, WazirX customers have been actively searching for authorized recourse.
The Nationwide Shopper Disputes Redressal Fee (NCDRC) in India dismissed a number of complaints from customers, as reported yesterday. Earlier, the customers sought redress from the Delhi and Kerala Excessive Courts, however now it seems that they’re planning to hunt the Supreme Courtroom’s intervention.
The primary downside nonetheless lies in the truth that the funds of customers are usually not safe. WazirX has pledged to return 85% of the customers’ portfolio in case the restructuring plan is permitted, which might be a reprieve to some customers who’re locked out of their funds.
With the clock ticking right down to the voting deadline, the query stays: Will this vote be the turning level for WazirX customers, or is it too little, too late?
Additionally Learn: WazirX Woos Users Amid Voting, Claiming $478.5M in Funds
