eMudhra Limited has responded to allegations made by 3i Infotech concerning the disinvestment of 3i Consumer Services Limited. eMudhra denies the claims of financial fraud, breach of trust, and criminal conspiracy, stating the allegations are approximately fifteen years old and without merit. The company intends to contest the matter through legal means, asserting that 3i Infotech’s current management is making baseless allegations.
Response to 3i Infotech’s Claims
eMudhra Limited addresses the disclosures made by 3i Infotech on February 4, 2026, regarding the disinvestment of 3i Consumer Services Limited (now eMudhra Limited). 3i Infotech has alleged corporate financial fraud, criminal breach of trust, cheating, and criminal conspiracy, with a claimed impact exceeding Rupees 128 crores, plus interest and damages.
Company’s Stance
eMudhra strongly denies all allegations. The matter was initially raised in January 2024, with a detailed response provided in February 2024. Despite attempts by eMudhra to facilitate inspection of relevant records, 3i Infotech cancelled a scheduled inspection in January 2025. eMudhra further offered to make documents available for inspection in Bengaluru, but received no response. A letter replying to all allegations was sent in January 2025, which also remains unanswered.
Allegations Deemed Baseless
eMudhra emphasizes that the allegations pertain to matters approximately fifteen years old. The company notes that the current management of 3i Infotech, lacking understanding of the original transaction, is making false and baseless allegations. eMudhra intends to contest the matter through appropriate legal recourse.
Source: BSE
