[UPDATE: Case Dismissed By SC] Arthmate CEO’s Arrest Triggers Mass Employee Exodus

UPDATE: July 1, 2025

Vihaan Kumar’s legal team reached out to Inc42 with the following statement: “On 7 February 2025, the Supreme Court in Vihaan Kumar v. State of Haryana & Anr. (2025) expressly held that his arrest was unconstitutional and illegal. Furthermore, at no stage did the Court or any competent legal forum make any finding that Mr. Vihaan Kumar committed fraud or cheating; on the contrary, the judgment vindicates his fundamental rights and confirms that no criminal wrongdoing has been established.”

Kumar was released from custody after the SC overturned the High Court’s decision and ruled that the arrest was illegal due to non-compliance with Article 22(1), i.e violations of his rights during his arrest.

Our original article follows

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Gurugram-based fintech startup Arthmate is in complete disarray following the arrest of its cofounder and former chief executive officer Vihaan Kumar, with employees reportedly leaving the company in droves, including a top executive.

Renu Satti, the chief operating officer of Arthmate, has stepped down from her role and several other employees have quit the company since Kumar’s arrest, Entrackr reported, citing sources.

However, Satti’s LinkedIn profile shows her as still being the COO of Arthmate. Prior to joining Arthmate in February, Satti served as the chief executive officer of Paytm Payments Bank.

Troubles started when Ramesh Prabhu, cofounder and chief financial officer of online gaming firm Gameskraft, filed a complaint with the Gurugram Police against Kumar in September 2022, accusing him of fraud, as per the report.

Gameskraft declined to comment on Inc42’s queries, saying “the matter is sub-judice”.

Five months later, a First Information Report (FIR) was reportedly lodged in connection with the case and Kumar was consequently arrested in June.

The complaint against Kumar purportedly alleged that he signed a deal with Gameskraft to invest in the company but later manoeuvred its board in his attempt to take control of its operations.

Kumar allegedly hired service providers and contractors such as Fly Tech, Ginni Tech, Skytech, Synx for Gameskraft without obtaining the promoters’ consent. These companies apparently threw Gameskraft into a financial turmoil, reporting losses on account of undelivered or over-invoiced services.

According to the FIR details cited by Entrackr, Gameskraft absorbed losses to the tune of INR 12.15 Cr due to Kumar’s actions, including unpaid GST dues which had already been funnelled to fraudulent service providers.

In the wake of these allegations, the Gurugram Police and Economic Offence Wing (EoW) lodged an FIR against Kumar on charges of criminal breach of trust, cheating, forgery, using forged documents, and criminal conspiracy.

While Kumar moved the Chandigarh High Court challenging his arrest, the court refused to grant him any relief and quashed his claims last month. Kumar is currently in prison until the court grants him bail.