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The HC held that the Section 9 petition under the A&C Act is maintainable as the applicant's crypto assets, held via the WazirX platform and accessible from her ordinary residence in India, were prima facie situated within the Court's jurisdiction and rendered inaccessible by freezing of the platform. The Court found that the platform was operated by entities connected to the respondent and that the applicant's holdings (3,532.20 XRP) were distinct from ERC-20 tokens affected by the cyber-attack. The HC granted interim relief under Section 9, recognizing the applicant's entitlement to protection pending arbitration and/or adjudication of whether the foreign scheme of arrangement binds her, and disposed of the application.
The HC held that the Section 9 petition under the A&C Act is maintainable as the applicant's crypto assets, held via the WazirX platform and accessible from her ordinary residence in India, were prima facie situated within the Court's jurisdiction and rendered inaccessible by freezing of the platform. The Court found that the platform was operated by entities connected to the respondent and that the applicant's holdings (3,532.20 XRP) were distinct from ERC-20 tokens affected by the cyber-attack. The HC granted interim relief under Section 9, recognizing the applicant's entitlement to protection pending arbitration and/or adjudication of whether the foreign scheme of arrangement binds her, and disposed of the application.
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