MobiKwik Drags DAM Capital to Delhi High Court Over ₹40 Crore Payment Dispute

Fintech firm MobiKwik has approached the Delhi High Court against investment firm DAM Capital over an alleged non-payment of ₹40 crore in expenses.

Mobikwik has alleged that DAM Capital has withheld instructions to the Public Issue Bank for ₹42 crore, which continues to remain in the public issue account on account of a dispute pegged at ₹1.5 crore.

DAM Capital has maintained that the disputed sum could be significantly higher than what Mobikwik has stated.

Justice Amit Bansal issued notice in the matter, with the case listed for hearing on August 21.

[One Mobikwik v Dam Capital Advisors & Ors]