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MobiKwik Fraud Incident Uncovered

Digital financial services company MobiKwik has reported a fraud case involving several of its registered merchants and users from Haryana, who reportedly collaborated to obtain unauthorized settlements from the firm. The company revealed in a stock exchange announcement that the incident transpired between September 11–12, 2025, leading to an FIR filed for Rs 40 crore. Out of this amount, Rs 14 crore has been successfully recovered, leaving an estimated remaining exposure of Rs 26 crore.

Details on the Fraud Incident

MobiKwik clarified that there is no involvement of any of its employees, key managerial personnel, or insiders in this incident. Authorities have already made several arrests, and the Legal Enforcement Agency has acted to freeze and lien-mark bank accounts that received the unauthorized funds.

Company’s Response and Recovery Efforts

The Gurugram-based firm mentioned that it is undertaking “aggressive collection efforts” along with legal measures to recover the outstanding amount. Furthermore, it stated that additional updates will be communicated with the exchanges as the police investigation and recovery attempts progress.

Financial Performance Overview

MobiKwik’s operating revenue witnessed a decline of 21%, falling to Rs 271 crore in Q1 FY26 from Rs 342 crore in Q1 FY25. Concurrently, the company reported a surge in losses, which increased more than sixfold to Rs 42 crore in Q1 FY26 compared to the same period in the previous year.

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