MobiKwik confirms financial fraud in Haryana; says no impact on user accounts
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New Delhi (PTI): Fintech firm One MobiKwik Systems on Thursday confirmed that a technical glitch had led to unauthorised payments in and around one district of Haryana last week, and said remedial measures had been taken with financial impact contained and quantified.
The company, in a statement, clarified that the incident did not affect UPI, wallet payments, or user account balances.
"MobiKwik confirms that an isolated technical issue on September 11-12, 2025, led to certain failed transactions being incorrectly marked as successful, resulting in unauthorised payouts to some merchants in and around the Nuh district of Haryana. A few merchants and users from this area exploited this issue to gain undue financial benefit.
"Upon identification in the early hours of September 12, the Company immediately took corrective action and resolved the issue within 45 minutes. The total financial impact has been contained and quantified," it said, adding that no employees, management personnel or insiders were involved in the fraud.
MobiKwik said it has since strengthened monitoring systems and implemented additional control measures.
Legal Enforcement Agency (LEA) has taken proactive steps to put a debit freeze and lien mark all the bank accounts where the unauthorised settlements were credited, the company had said in a regulatory filing.
"Based on preliminary data, as a risk mitigating measure... FIR was lodged for an amount of Rs 40 crore; out of which, the Company has recovered around Rs 14 crore. Thus, the estimated net impact is Rs 26 crore. The Company is taking aggressive collection efforts while pursuing legal course of action to recover the full amount over a period of time," the filing said.
Police said six people have been arrested so far. The accused were identified as Rehan, a resident of Rewasan village in Nuh district; Waqar Yunus, Mohammad Amir and Mohammad Ansar, residents of Kameda village in Nuh; Wasim Akram of Maroda village in Nuh; and Mohammad Sakil of Utawad village in Palwal district.
"During interrogation, the accused revealed that due to some technical glitch in the MobiKwik app, all the transactions done through the app were getting completed successfully irrespective of whether there was any balance in one's bank account or MobiKwik wallet or not. Even after entering the wrong password in the app, the transactions were being completed successfully.
"The accused committed fraud to earn unfair profits. The bank accounts of about 2,500 people in whose accounts the money was transferred were frozen," a Gurugram police spokesperson said.
The accused were produced before a city court on Tuesday, which remanded them in judicial custody, police added.
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Ordinance issued to increase number of Supreme Court judges from 34 to 38
New Delhi (PTI): The government has promulgated an ordinance to increase the strength of the Supreme Court from the present 34 judges to 38, including the Chief Justice of India.
The law ministry notified the ordinance on Saturday, which amended the Supreme Court (Number of Judges) Act, 1956, to increase the sanctioned strength of the top court.
So far, the sanctioned strength of the top court was 34, including the Chief Justice of India (CJI). Now, the number of judges has been increased by four, taking the sanctioned strength to 38.
The top court will now have 37 judges, other than the CJI.
With the apex court having two vacancies at present, and the ordinance coming into force immediately, the Supreme Court Collegium will now have to recommend six names for appointment as judges in the top court.
A bill will be brought in the Monsoon Session of Parliament to convert the ordinance – an executive order – into a law passed by Parliament.
The Union Cabinet had cleared a draft bill on May 5 to increase the number of apex court judges.
The strength of the Supreme Court was last increased from 30 to 33 (excluding the CJI) in 2019.
The Supreme Court (Number of Judges) Act, as originally enacted in 1956, put the maximum number of judges (excluding the CJI) at 10.
This number was increased to 13 by the Supreme Court (Number of Judges), Amendment Act, 1960, and to 17 by another amendment to the law.
The Supreme Court (Number of Judges) Amendment Act, 1986, augmented the strength of judges from 17 to 25, excluding the CJI.
A fresh amendment in 2009 further increased the strength from 25 to 30.
Article 124(3) of the Constitution lists the qualifications required to become a Supreme Court judge.
An Indian citizen who has either served as a high court judge for at least five years, or as an advocate for 10 years, or is a distinguished jurist, can be appointed to the top court.
The strength of the Supreme Court is increased based on the recommendations of the CJI, who writes to the Union law minister. After consulting the finance ministry, the Department of Justice under the law ministry moves the Cabinet with a draft bill.
