Mahadev betting app case: ED arrests bizman Vikas Garg
The Enforcement Directorate arrested businessman Vikas Garg under the Prevention of Money Laundering Act in the ₹6,000 crore Mahadev online betting racket probe.
Garg is the promoter of listed entities Vikas Ecotech Limited, Vikas Lifecare Limited, and Eraaya Lifespaces Limited.
ED alleged Garg acquired a 64% stake in EbixCash through Eraaya Lifespaces using proceeds from illegal betting.
Assets worth ₹940 crore belonging to Garg and his family were attached by the ED.
This is the 14th arrest in the case; five charge sheets have named 74 entities, including Mahadev Online Book and Skyexchange operators Sourabh Chandrakar and Ravi Uppal.
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