India, June 5 -- WazirX took a major hit after the Singapore High Court rejected a proposed restructuring plan submitted by its parent entity Zettai Pte Ltd.

The company submitted the plan in November last year after it suffered a $235 Mn cyber theft in July, which affected nearly 4.4 Mn Indian users.

"The Honourable Singapore High Court issued an order declining to approve our proposed restructuring plan. While this outcome was not what we anticipated, we respect the Court's decision and remain fully committed to complying with all legal and regulatory processes," WazirX said in an X post.

The company added that its primary focus remains to begin distributions as soon as possible and that it is evaluating all available legal options t...