Enforcement Directorate, on Thursday, questioned television personality Shefali Bagga in ongoing money laundering probe in Mahadev App. She is being questioned at ED’s Raipur office. Bagga was not available for a comment.
” Television host Shefali Bagga is being questioned in connection with Mahadev online betting app case at Raipur Zonal office. Shefali Bagga is a close associate of Khanjan Jagdish Kumar Thakkar who runs and promotes betting app in India. She has further become the face of the betting apps that are being operated from overseas cities such as Dubai and London,” officials said.
“In this regard, incriminating evidences and promotional pages have been found where Shefali is not only promoting the betting app but also giving tips to the players. Khanjan Jagdish Kumar Thakkar is the key Hawala operator for the Mahadev Online Book, managing all related transactions. Ms. Shefali Bagga runs her telegram channel where work like promotion/tips related to illegal betting is done,” ED claimed.
On Tuesday, the Enforcement Directorate had Vikas Garg, Chairman of Ebix in Mahadev App. He was arrested by ED from his house at Delhi. A Raipur court has remanded Garg to ten days in ED custody.
“ED had attached properties of Vikas Garg, his family members and entities owned and controlled by him, valued at Rs. 940.77 Crore. The ill-gotten money from betting app 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,” ED said in a statement.
Garg is the promoter of three listed entities, namely Vikas Ecotech Limited, Vikas Lifecare Limited, and Eraaya Lifespaces Limited. It has been found that he acquired a 64% stake in EbixCash through Eraaya Lifespaces Limited by utilizing ill-gotten funds allegedly generated from illegal betting activities.
On India’s request authorities in Oman have provisionally arrested Saurabh Chandrakar . Indian authorities are now trying to deport him.He was travelling on a fake Indonesian passport
Saurabh Chandrakar and Ravi Uppal are promoters of Mahadev App.ED in its probe claims proceeds of crime generated through Mahadev App is over Rs 6000 crores
The investigation conducted by ED revealed that said properties were acquired from the Proceeds of Crime generated by commission of scheduled offence related to illegal online betting operations in the name of Mahadev Online Book platform and several others.
ED initiated investigation on the basis of multiple FIRs registered by Police authorities in Chhattisgarh, Andhra Pradesh and West Bengal.
What Is Mahadev App?
Investigation conducted by ED has revealed that the Mahadev Online Book operated as a large-scale international betting syndicate, which facilitated illegal betting through multiple online platforms and domain names such as Tiger Exchange, Gold365 and Laser247. The operation was structured through a franchise-based network of “Panels” or “Branches” operated by associates across India, while the main promoters Sourabh Chandrakar and Ravi Uppal operated and controlled the betting syndicate from Dubai.
Investigation further revealed that the promoters retained approximately 70–75% of the profits generated by the betting panels, while the remaining portion was distributed among panel operators managing the betting operations. The Proceeds of Crime (PoC) generated from commission of scheduled offences were systematically layered through thousands of mules or dummy bank accounts opened using KYC documents of unsuspecting individuals.
Subsequently, the illicit funds were transferred outside India through hawala channels, cryptocurrency transactions and complex financial layering mechanisms, and were eventually invested in high-value movable and immovable assets in the UAE and India.
ED has conducted search operations at more than 175 premises across the country in connection with this case. Further, 13 persons have been arrested in the case and 74 persons have been arraigned as accused in five