The beleaguered platform is tied up with a series of challenges including massive liabilities, its dispute with global crypto exchange Binance, and investors losing faith as the company looks to restructure.
The company may be engaged in talks with a bunch of crypto platforms for a potential deal, sources close to the company said.
"It is prudent for any white knight who is going to take over Zettai (WazirX's parent company) altogether to exclude itself from any existing liabilities or get indemnities in its favour against any claims by the users. The only incentives for the buyer to take over Zettai would be the assets and the user data or customers," said Navodaya Singh Rajpurohit, Legal Partner, Coinque Consulting and founder, Pravadati Legal.
However, with the firm under moratorium, most creditors would consider moving away from the platform to other exchanges as the company undergoes restructuring.
Diese Geschichte stammt aus der November 02, 2024-Ausgabe von Business Standard.
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Diese Geschichte stammt aus der November 02, 2024-Ausgabe von Business Standard.
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CESS AND SENSIBILITY
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India's transport future balances fossil fuels and clean tech
Fossil fuels will continue to play an important role in India's transportation sector, even as alternative fuel technologies see multifold growth.
Over 6K pollution plaints in Delhi since Oct 2021; 38% still unresolved: CPCB
Delhi registered 6,170 complaints related to air pollution between October 15, 2021 and November 19, 2024, with 2,333 (38 per cent) of these remaining unresolved, according to data from the Central Pollution Control Board (CPCB).
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Future of television is smart and networked
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Centre spent ₹3,623 crore on crop residue mgmt since 2018: Environment minister
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Silver prices as volatile as stocks: Should you pick gold or silver?
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Tech stocks gain as recovery takes hold
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UNDER PRESSURE
Enviro Infra booked 89.9 times on last day
The initial public offering (IPO) of sewage treatment solutions provider Enviro Infra Engineers was subscribed 89.90 times on the closing day of bidding on Tuesday.
