India, Sept. 17 -- Listed fintech company MobiKwik was defrauded of INR 40 Cr by some registered merchants and users between September 11 and 12.

In an exchange filing, the company said that some merchants and users, in collusion with each other from limited locations of Haryana, claimed unauthorised settlement from the company with an intent to gain an "unfair monetary advantage".

The company said that it filed an FIR in Gurugram and arrests have also been made. It added that the legal enforcement agencies have taken proactive steps to put debit-freeze and lien mark all the bank accounts where the unauthorised settlements were credited.

"Based on preliminary data, as a risk mitigating measure, the FIR was lodged for an amount of INR 4...