WazirX Voting: A Comedy of Errors or Just a Bad Joke? 😂

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Picture this: the prime minister of India, in a moment of sheer brilliance, decides to ask his corporate “best buddy” to whip up some electronic voting machines (EVMs) for a nation of 1.4 billion people. And just to sprinkle a little fairy dust of “transparency” on the whole affair, he promises that a third party will vet the results. Sounds like a plot twist from a bad sitcom, right? Well, welcome to the world of WazirX, where 4.4 million users are about to vote on their stranded funds from March 19-28, and guess who’s in charge? That’s right, Kroll Information Services (KIS), the legal partner that’s been paid with the users’ own money. Talk about a conflict of interest! 🎭

Now, several users on X (formerly Twitter) have raised their eyebrows, wondering if this whole voting charade is as “fair and transparent” as WazirX claims. Kroll is using their own platform for the voting, which begs the question: how independent can they really be? It’s like asking a cat to judge a dog show—good luck with that! 🐱🐶

Let’s not forget the backstory: Kroll was brought in after a Rs 2000 crore cyber hack left WazirX in a bit of a pickle. Since then, trading has been suspended, user funds have been withheld, and Kroll has been busy streamlining creditors’ claims. Oh, and did I mention they’ve been paid from a Rs 100 crore fund that belongs to the users? It’s like a magician pulling a rabbit out of a hat, except the rabbit is your money! 🎩🐇

And here’s the kicker: WazirX and Kroll have concocted a restructuring plan that promises users 85% of their portfolio back by April or May 2025, with the remaining 15% trickling in over the next few years. But first, they need to prove that the majority voted in their favor. So, between March 19-28, Kroll will conduct the voting, and after a mysterious three-day break (because who doesn’t love a good cliffhanger?), the results will be handed over to a third party, Alvarez and Marsal (A&M), for “independent assessment.” Because nothing says “trustworthy” like a last-minute addition of a third party after a court’s insistence! 🕵️‍♂️

In the end, it’s hard to see how this voting process isn’t a farce. Kroll, having been paid from the users’ pockets, is now tasked with ensuring that the restructuring scheme passes. If this isn’t a comedy of errors, I don’t know what is! So grab your popcorn, folks; this show is just getting started! 🍿

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2025-03-15 10:29