Sunil Lohan
The Varthur Police have registered two cases against a Gurgaon based mobile payment system and digital wallet company (Transactree Technologies Pvt.Ltd.and One MobiKwik Systems Ltd) for over alleged cheating and misuse of investor funds through the “MobiKwik Xtra” investment scheme.
One of the victim filed a complaint on May 14,2026, alleged that the companies lured investors by promising fixed-deposit-like returns and easy withdrawal facilities under the “MobiKwik Xtra”scheme.
However,after collecting investments, the accused allegedly failed to return the money to investors.
The complainant stated that he was unable to withdraw nearly Rs.4 lakh invested through the platform.It was further alleged that the collected funds were diverted and used in violation of Reserve Bank of India regulations.
The complaint also referred to a Borrower Mapping Report dated May 5,2026,and lender verification findings,which allegedly revealed that several borrower accounts had become inactive or defaulted,while investor money remained blocked in accounts linked to the accused entities.
Senior officer told reporters that the complaint claims that more than 630 investors across the country may have collectively invested over Rs.6 Crore in the scheme.
The complainant has sought freezing of the bank accounts of the accused companies and legal action against those responsible.
In a similar complaint,another investor alleged that he had invested Rs.3 lakh through MobiKwik and Lendbox, of which Rs.91,341 remains blocked.
The complainant alleged that the companies marketed the scheme as a secure and liquid investment product similar to a fixed deposit,but later restricted withdrawals without investors’consent.
The complaint further alleged that over 420 investors nationwide may have exposure exceeding Rs.5.93 crore in the scheme.
Police are examining the allegations and verifying financial records related to the transactions.
The company founded in 2009,operates as a mobile payment system and digital wallet that allows users to send money,pay utility bills,recharge mobile phones,and make UPI payments.
Based on the complaint,the Varthur police have registered both the cases under IT act and also under 319(2) (cheating )and 318(4) (cheating and dishonestly inducing the delivery of property) of BNS for further investigation.
