Summary: Monexo Fintech and Grameen Shakti Microfinance are in a disagreement over loan repayments. The court has chosen someone to help sort things out.
Monexo Fintech, a platform for lending money between people, had a deal with Grameen Shakti to manage loans. But problems started when Monexo noticed issues with the loan repayments. They claimed Grameen Shakti wasn’t returning the money they collected from borrowers.
Monexo noticed problems starting in October 2024. They found that Grameen Shakti collected money for 569 loans but didn’t pass it on. This was a big deal because Monexo’s records showed these loans as unpaid, while Grameen Shakti marked them as settled. The missing money added up to Rs. 48.53 Lakhs.
"The audit showed Rs. 48.53 Lakhs missing for 569 loans," Monexo stated.
The audit also found issues with other loans. For 1194 loans, Rs. 61.71 Lakhs was collected but not sent to Monexo. In another case, 1363 loans had Rs. 1.80 Crores outstanding, but Grameen Shakti didn’t share details of collections after April 2025.
Monexo tried to fix things by meeting with Grameen Shakti in May 2025. They claimed Grameen Shakti admitted to owing Rs. 41.07 Lakhs but didn't pay. Monexo even sent a notice in September 2025 to start a formal resolution process, as per their agreement.
Judge N. Anand Venkatesh decided it’s best for someone neutral to handle this. Both parties agreed to have Mr. Ratananko Banerji as the person in charge. He’ll look into all the claims and counterclaims.
"The arbitrator will sort out the 2557 loan disputes," said the court.
The arbitrator, based in Kolkata, will review everything and make a decision. This means the court won’t decide who’s right or wrong. Instead, it’s up to Mr. Banerji to figure out the best solution.
