Delhi High Court sends Mobikwik–DAM capital IPO funds dispute to mediation

The Delhi High Court referred a dispute between One Mobikwik Systems and DAM Capital Advisors to mediation over the release of ₹42 crore earmarked for IPO expenses.

The issue revolves around the alleged failure of DAM Capital to release ₹42 crore, earmarked for expenses related to Mobikwik’s Initial Public Offering (IPO), despite approvals in place.

Mobikwik claims it had to spend ₹13 crore from its own funds, while DAM Capital maintains the disputed amount could be larger than ₹1.5 crore.

With both parties agreeing to mediation, Justice Amit Bansal directed that the matter proceed through this route. The Court recorded submissions that undisputed dues would be paid, while ₹1.49 crore would remain in escrow pending resolution.