ED Attaches ₹940.77 Crore Assets in Mahadev Betting Case

The Enforcement Directorate has attached assets worth ₹940.77 crore linked to businessman Vikas Garg in the Mahadev Online Book illegal betting case. This action increases the total frozen assets in the probe to ₹3,800 crore.

What Happened

The Enforcement Directorate (ED) has reportedly attached assets valued at ₹940.77 crore in connection with its ongoing investigation into the Mahadev Online Book illegal betting case, according to Devdiscourse. These assets are purportedly linked to Delhi-based businessman Vikas Garg, his family members, and entities under his control.

This latest attachment significantly contributes to the overall assets frozen in the case, bringing the total sum to approximately ₹3,800 crore. The ED has petitioned the Adjudicating Authority under the Prevention of Money Laundering Act (PMLA) to affirm the provisional attachment in line with legal requirements, as reported by Devdiscourse.

Key Details

• The attached assets, valued at ₹940.77 crore, are linked to businessman Vikas Garg and associated entities, according to The Economic Times.
• These assets reportedly include residential properties, land parcels, equity shares, and various securities, as stated by the ED.
• The ED claims these assets are proceeds of crime from the illegal betting operations of Mahadev Online Book and Skyexchange, Devdiscourse reported.
• The total value of assets attached, seized, or frozen in the Mahadev case now stands at approximately ₹3,800 crore, The Hindu reports.
• The betting syndicate reportedly operated via a franchise-based ‘panel’ network from abroad and generated over ₹450 crore monthly through illicit betting activities, according to the ED.
• Funds were allegedly channeled through shell companies and laundered via complex financial transactions before being invested in various assets, the ED stated.
• Approximately ₹940.77 crore of illicit funds were funneled into entities controlled by Vikas Garg, according to the agency.
• The investigation is based on multiple First Information Reports (FIRs) filed by police in Chhattisgarh, Andhra Pradesh, and West Bengal, as reported by Devdiscourse.
• The ED has issued seven Provisional Attachment Orders and submitted prosecution complaints to the Special Court (PMLA) in Raipur, which has recognized the offense of money laundering, according to Devdiscourse.

Why It Matters

This attachment underscores the scale of alleged money laundering operations associated with the Mahadev Online Book illegal betting case, as reported by Devdiscourse. The total amount of assets frozen in the probe, now reaching ₹3,800 crore, indicates the significant financial scope of the alleged illicit activities. The enforcement actions highlight regulatory scrutiny on illegal betting operations and money laundering within regulated markets, impacting B2B operators, regulators, and industry analysts monitoring compliance and financial integrity.

What’s Next

The ED’s petition to the Adjudicating Authority under the PMLA for affirmation of the provisional attachment is part of the ongoing legal process, according to Devdiscourse. The Special Court (PMLA) in Raipur has already recognized the offense of money laundering in this case, suggesting continued judicial proceedings.

Originally reported by Devdiscourse·Published 10 Jul 2026, 17:32