₹3,800-crore assets seized in Mahadev betting app case: ED
The Enforcement Directorate (ED) on Friday (July 10, 2026) said that the total value of properties “attached, seized and frozen” in the illegal betting operations
The Enforcement Directorate (ED) on Friday (July 10, 2026) said that the total value of properties “attached, seized and frozen” in the illegal betting operations case involving Mahadev Online Book and others has gone up to approximately ₹3,800 crore. The agency said its Raipur Zonal Office attached movable and immovable properties worth ₹941 crore belonging to businessman Vikas Garg, his family members and entities linked to him under the provisions of the Prevention of Money Laundering Act, 2002.
“The attached properties include residential properties, land parcels, equity shares and other securities. The attachment forms part of the ongoing money laundering investigation in the Mahadev Online Book / Skyexchange illegal online betting case,” said an ED official, adding that this was in addition to the movable and immovable properties worth ₹2,825 crore, including foreign assets, that “had been attached/seized/frozen in this case earlier.” The latest seizures come a day after the ED’s counsel said Saurabh Chandrakar, the alleged kingpin of the Mahadev betting scam, was traced to Oman and efforts were on to extradite him.
The official said investigation revealed that the betting syndicate operated through a franchise-based panel network run from abroad. It generated more than ₹450 crore per month from illegal betting operations. The proceeds of crime were laundered through a multi-layered structure of accommodation entries arranged against cash through a web of shell entities and other layered transactions designed to project the “tainted” funds as “untainted”. “Investigation revealed that Proceeds of Crime aggregating ₹940.77 crore (approx.) of the Mahadev Online Book / Skyexchange betting operations were, in this manner, routed into the entities owned and controlled by Vikas Garg.
The said funds were further layered through various entities and were utilised, inter alia, for acquisition of shares, securities and other assets,” the agency said.
The BriefWire