In third affidavit, Vauld names its top 20 creditors
In his third affidavit, Vauld co-founder and CEO Darshan Bhatija has disclosed the names of the top 20 creditors of the crypto firm. The first creditor has a sum of $33,937,958 outstanding with Vauld as of June 28, shows the affidavit which has been reviewed by Moneycontrol.
The list also shows an Indian - Mridul Jhunjhunwala - among the top 20 creditors, who has an outstanding amount of $2,753,795 with the firm. The affidavit shows that he is in support of Vauld’s application in the court. Most of the creditors are in support of Vauld's application except around 8 from the top 20 creditors, as per the affidavit.
Across its 20 top creditors, Vauld owes over $124.94 million.
The affidavit shows that the firm has taken permission of the creditors before disclosing their names.
Bhatija in the affidavit said that 3,231 creditors had submitted responses of whom 2,502 were in support of the application.
On August 1, Moneycontrol reported that a Singapore court has granted a three-month moratorium to Vauld till November 7. All the creditors will get updated financial details on the Coinbase-backed company in another eight weeks, the court said in a virtual hearing.
In July, Vauld had said that its parent company Defi Payments currently has assets worth around $330 million and liabilities worth $400 million. Currently, Vauld’s operations remain halted while it has parallelly stopped withdrawals for customers.
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