Summary: In a complicated case involving ATM cash mismanagement, Securitrans India Pvt. Ltd. (SIPL) and FIS Payment Solutions argued over missing money. The court supported an earlier decision, requiring Securitrans India Pvt. Ltd. to pay back FIS Payment Solutions over ₹23 crores because of alleged theft by Securitrans India Pvt. Ltd. employees.
Background of the Companies
Securitrans India Pvt. Ltd. provides services to refill ATMs with cash, while FIS Payment Solutions offers financial technology services. They started working together in 2010, with Securitrans India Pvt. Ltd. managing cash services for FIS Payment Solutions’ ATM contracts with banks like Bank of India (BOI).
The Agreements
The first deal from August 2010 was renewed in 2015. Securitrans India Pvt. Ltd. claimed they were owed ₹25.05 crores, while FIS Payment Solutions claimed ₹23.26 crores, saying that Securitrans India Pvt. Ltd. employees stole money while handling ATM cash.
The Incidents
In November 2015, FIS Payment Solutions noticed cash shortages at ATMs in Barhi and Jhumritelaiya, Jharkhand. Employees of Securitrans India Pvt. Ltd. were accused of taking money, which led to police reports and internal checks showing shortages of ₹16.17 crores and ₹7.36 crores, respectively.
"On 8 November 2015, Securitrans India Pvt. Ltd. sent a report to the police at Jhumritelaiya about its workers, claiming they had run away with ATM keys, all financial documents, cash balance reports (CBRs), etc."
Arbitration Decision
The arbitrator decided that Securitrans India Pvt. Ltd. should get ₹25.05 crores for unpaid invoices but also needed to pay FIS Payment Solutions ₹23.26 crores for the alleged theft, with interest adjustments.
Court’s Decision
Judge Sandeep V. Marne agreed with the arbitration decision on December 23, 2025, rejecting Securitrans India Pvt. Ltd.’s arguments about FIS Payment Solutions’ failure to reduce losses and the amount of theft.
Reducing Losses
Securitrans India Pvt. Ltd. argued FIS Payment Solutions should have noticed the thefts earlier through checks with BOI. However, the court found no requirement for FIS Payment Solutions to do such checks every day.
Amount of Theft
The court agreed with the arbitrator’s findings on the theft amounts, pointing to a lot of evidence, including Securitrans India Pvt. Ltd.’s own admissions and efforts to resolve the issue with FIS Payment Solutions and BOI.
"The email dated 9 February 2016 confirmed that Securitrans India Pvt. Ltd. had checked the submitted details and understood there was a shortage of ₹16,17,53,900."
The court decided that Securitrans India Pvt. Ltd., as the party responsible for the cash, was liable for the stolen money, stressing that FIS Payment Solutions had no duty to reduce losses by checking with BOI. The judgment highlights the importance of clear agreements and the responsibilities of service providers in financial transactions.
