Apollo Finvest (I)

Apollo Finvest (India) reconciled the amount involved in its 24 September cyber fraud incident at Rs 2.93 crore and received the attributable sum from its partnership-venture partner, and expected no residual financial impact. The incident had involved an unauthorised transfer from a joint bank account maintained under a partnership arrangement, with the compromise identified at the partner's end and the company's proportionate share pegged at about Rs 2.94 crore. Apollo Finvest operated as a digital-lending non-banking finance company with assets under management of Rs 83.4 crore at the end of FY25, while retail loans accounted for about 51% of the book at the close of Q4 FY26. Gross income was about Rs 30 crore in FY26, with profit after tax of Rs 6.95 crore.

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A joint bank account maintained by Apollo Finvest (India) and a partner was hit by a cyber fraud that moved funds to multiple beneficiary accounts, with about Rs 2.94 crore attributable to the company. The compromise occurred at the partner's end, and both the company and the partner were victims of external parties. The partner froze the account, complained to the Cybercrime Cell and the bank's fraud unit, and started recovery and reversal work alongside an internal review. The partner undertook to bear the entire loss and reimburse the company in full, and the payment was pending. Apollo Finvest operated a digital lending business that had been shifting from partnership-led co-lending towards its own retail book, which stood at 51% of assets under management at the end of the March quarter. It reported gross income of about Rs 30 crore and net profit of Rs 6.95 crore for the year to March, with assets under management of Rs 83.4 crore a year earlier.

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Sept 24 (Reuters) - Apollo Finvest (India) Ltd APLM.BO:

• DISCLOSES CYBER FRAUD INCIDENT IN PARTNERSHIP JOINT BANK ACCOUNT

• FRAUD AMOUNT INVOLVED ABOUT 29.4 MILLION RUPEES FOR APOLLO FINVEST

Further company coverage: APLM.BO

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Apollo Finvest (India) Ltd. scheduled its 40th annual general meeting for September 17, 2026, to be held by video conference, with shareholders asked to approve an unsecured loan of up to ₹40 crore from directors and promoters at interest rates ranging from 10.25% to 14%. The agenda also included authority for up to ₹100 crore of private-placement non-convertible debentures, the reappointment of Mikhil Innani as director and the appointment of Pranay D. Vaidya & Co. as secretarial auditor for five years.

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Apollo Finvest (India) Ltd. disclosed that arbitration proceedings have been initiated by M/s. Psi Phi Global Solutions Private Limited before the Bombay High Court. The dispute arises from a Master Service Agreement dated December 1, 2022, under which the claimant provided services to Apollo Finvest. The claimant has asserted claims aggregating to ₹6.02 crores against the company. Apollo Finvest stated that it has reviewed the allegations and believes they are without merit. The company intends to vigorously defend its position and pursue all legal remedies. Management, based on legal advice, currently expects no material adverse financial impact from the proceedings.

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May 27 (Reuters) - Apollo Finvest (India) Ltd APLM.BO:

• APPROVED TO RAISE DEBT VIA ISSUE OF NON-CONVERTIBLE DEBENTURES WORTH UP TO 150 MILLION RUPEES

Source text for Eikon: ID:nBSE20078Q

Further company coverage: APLM.BO

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