$WRX WHEN KARMA HITS YOU HARD đ«
WAZIRX & PARTNERS FACE NCLT PETITION (Litigation) OVER $230M CRYPTO THEFT.
Not a cyber attack, rather a crypto theft - This is what Gauransh Vyas mentioned when he filed the petition against WazirX and its partners including Liminal.
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đ° The petition, filed on August 5 in Indore, invokes Section 213(b) and Sec. 221 of the Companies Act, 2013. Sec. 213(b) allows any person to seek an investigation into a company's affairs if there are reasons to believe in mismanagement, malpractices, or fraudulent activities.
Under Sec. 221, the petitioner can request to freeze the company's assets following an inquiry and investigation.
âEmails have been sent to all the respondents notifying the same,â a source privy to the developments said.
Apart from WazirX, Liminal and its directors & founders, the respondents in the petition also included the Ministry of Home Affairs through principal secretary, Ministry of Finance through principal secretary, and Ministry of Corporate Affairs through principal secretary, and serious fraud investigation office.
The case was filed by a lawyer named Gauransh Vyas from Indore, as per the details available on the NCLT website. According to his LinkedIn profile, he is an associate practicing in the Supreme Court of India.
A WazirX spokesperson said, âWe are aware of the petition filed against us before the NCLT, Indore and we are taking necessary legal action. We strongly deny any and all allegations of fraud. Since it is an ongoing legal proceeding, we cannot discuss the details of the petition.
âWe will respond as per the prescribed procedure under law before the NCLT. The NCLT will decide the weight of the petition on legal grounds,â the spokesperson added.
Liminal didn't respond to the media queries at the time of publishing. Any comments from the company will be updated to reflect in the article later.
