Listed fintech company MobiKwik said that it has been hit by a fraud to the tune of Rs 40 crore that was caused by some of its own registered merchants and users.

The company has already lodged an FIR for the amount of Rs 40 crore, it said in a filing to the stock exchanges.

MobiKwik added that it has already recovered Rs 14 crore and that it is taking aggressive collection efforts while pursuing legal course.

The fintech company explained that the registered merchants and the users involved in the fraud were operating from Haryana.

It noted that none of its employees, key management personnels (KMPs) and insiders were involved in the fraud.

Last month, MobiKwik moved the Delhi High Court against its IPO book running lead manager, DAM Capital Advisors, alleging that the firm has withheld Rs 42 crore meant for IPO-related expenses.