The Enforcement Directorate (ED) has frozen and seized assets worth ₹417 crore in connection with the Mahadev online betting case. The company promoted by Sourabh Chandrakar and Ravi Uppal, which was running operations from Dubai, was involved in illegal betting activities through its mobile app.
The ED conducted searches at multiple locations in Delhi, Maharashtra, and Rajasthan in connection with the case. The searches resulted in the seizure of incriminating documents, electronic devices, and cash.
The ED has also frozen bank accounts and shares held by the promoters of the company. The agency is also investigating the role of other individuals and entities involved in the illegal betting activities.
The Mahadev online betting case is a major crackdown on illegal betting activities in India. The ED’s action is a clear message that the government will not tolerate such activities.
The ED’s action is likely to have a significant impact on the illegal betting industry in India. The freezing and seizure of assets will make it difficult for the companies involved in illegal betting to operate.
The ED’s action is also likely to deter people from participating in illegal betting activities. People are now aware that the government is taking action against illegal betting companies, and they are less likely to risk their money on these activities.
The ED’s action in the Mahadev online betting case is a positive development. It is a clear message from the government that it will not tolerate illegal betting activities. The ED’s action is also likely to have a significant impact on the illegal betting industry in India.