Enforcement Directorate Raids 39 Locations In Nationwide Operation; Seizes Assets Worth Rs 417 Crore In Mahadev Betting App Scandal

Mumbai, 15th September 2023: In a major crackdown, the Enforcement Directorate (ED) has conducted simultaneous raids at 39 locations across Kolkata, Bhopal, and Mumbai, unearthing a web of financial irregularities linked to M/s Mahadev’s online book betting app. In a startling revelation, the ED has reported that assets valued at approximately Rs 417 crore have been either frozen or seized in connection with this case.

At the centre of this financial fraud is Saurabh Chandrakar, the promoter of M/s Mahadev. Notably, Mr. Chandrakar made headlines recently when he tied the knot in February 2023 in the United Arab Emirates (UAE). What has raised eyebrows is the ED’s finding that an astonishing sum of Rs 200 crore was spent on this extravagant wedding ceremony.

What adds complexity to the investigation is the involvement of 14 prominent film actors and singers, who allegedly received payments through hawala channels for their performances at the aforementioned wedding ceremony.

The ED’s extensive operation spanned multiple states, including Mumbai, Bhopal, and Kolkata, targeting locations affiliated with the Mahadev online betting app. The brainchild behind this controversial app, Ravi Uppal, and Saurabh Chandrakar, both hailing from Chhattisgarh, stand as its promoters. The ED’s diligence in this case has resulted in the seizure of assets worth a staggering Rs 417 crore.

Of particular interest to the authorities are several celebrities of the Hindi film industry who have now come under the ED’s scrutiny. Among them are prominent names like Tiger Shroff, Neha Kakkar, Sunny Leone, Krishna Abhishek, Rahat Fateh Ali Khan, and Vishal Dadlani, all of whom performed at the UAE wedding.

Furthermore, the investigation has uncovered the names of Bharti Singh, Nusrat Bharucha, and Atif Aslam, who are suspected of having accepted money through hawala channels. The ED intends to interrogate these individuals to determine their level of involvement in the financial irregularities surrounding the event.

Intriguingly, the ED’s probe has traced the operation of the hawala racket to a person named Yogesh Popat. During their searches, the ED uncovered a stash of cash amounting to Rs 18 lakh and an extensive collection of gold and silver jewellery valued at Rs 13 crore at the residence of Govind Kedia.