One MobiKwik Systems Limited has disclosed an incident of financial fraud involving some of its registered merchants and users from limited locations in Haryana. The company, in a filing dated September 16, said that these entities colluded to claim unauthorized settlements with the intent of gaining unfair monetary advantage.
MobiKwik clarified that none of its employees, key managerial personnel, or insiders were involved. The incident occurred between September 11 and 12, 2025, as per the preliminary assessment.
According to the disclosure, an FIR was lodged for ₹40 crore, out of which the company has already recovered ₹14 crore. The estimated net impact currently stands at ₹26 crore. The Gurugram police have made arrests, and bank accounts where funds were credited have been frozen under the direction of enforcement agencies.
The company stated it is “undertaking all possible and necessary efforts” to recover the full amount and will continue to assist authorities during the investigation.
MobiKwik also emphasized that corrective measures, including legal actions and lien marking of affected accounts, are in progress to mitigate further risk.
