ED Arrests Vikas Garg in Mahadev Betting App Case

The Enforcement Directorate (ED) has arrested businessman Vikas Garg in connection with its money laundering investigation into the ₹6,000 crore Mahadev online betting racket. This marks the 14th arrest in the ongoing probe, which has involved significant asset attachments.

What Happened

The Enforcement Directorate (ED) on Tuesday arrested businessman Vikas Garg as part of its money laundering investigation into the Mahadev online betting racket, which reportedly involves ₹6,000 crore (Hindustan Times). Garg’s arrest was made under the Prevention of Money Laundering Act (PMLA) following searches at his premises in Delhi, according to agency officials (Hindustan Times).

Garg was subsequently produced before a special court and is being transported to Raipur (Hindustan Times, The Hindu). This arrest represents the 14th in the case, where five charge sheets have already been filed before a special PMLA court in Raipur, naming 74 entities as accused, Hindustan Times reported.

Key Details

• Vikas Garg was arrested by the Enforcement Directorate in connection with the Mahadev online betting racket (Hindustan Times, The Economic Times, India Today).
• The ED previously stated it attached assets worth ₹940 crore belonging to Garg and his family members, alleging equivalent amounts from online betting operations were routed to his controlled entities (Hindustan Times, India Today).
• Garg is reportedly the promoter of three listed entities: Vikas Ecotech Limited, Vikas Lifecare Limited, and Eraaya Lifespaces Limited (Hindustan Times).
• Investigations have revealed Garg reportedly acquired a 64% stake in EbixCash through Eraaya Lifespaces Limited using funds allegedly generated from illegal betting activities (Hindustan Times).
• EbixCash is a forex and remittance platform, acquired by BSE-listed Eraaya as part of its acquisition of US-based Ebix Inc (Hindustan Times).
• The alleged proceeds of crime in this case are approximately ₹6,000 crore and reportedly involve high-ranking politicians and bureaucrats from Chhattisgarh (Hindustan Times).

Why It Matters

This arrest highlights the continued efforts by regulatory bodies to address illicit financial activities within the online betting sector across regulated markets, according to the Hindustan Times. The scale of the alleged money laundering, reportedly amounting to ₹6,000 crore, underscores the significant financial flows associated with illegal betting operations (Hindustan Times). The involvement of a businessman connected to publicly listed entities such as Vikas Ecotech Limited, Vikas Lifecare Limited, and Eraaya Lifespaces Limited, as well as the acquisition of a substantial stake in EbixCash, indicates the intricate layering of illicit funds into legitimate financial structures (Hindustan Times).

The ongoing probe, involving multiple arrests and asset attachments, signals a proactive enforcement stance against those allegedly facilitating and profiting from illegal online betting (Hindustan Times). The alleged routing of funds through shell entities and layered transactions, as well as their utilization for acquiring shares and securities, points to complex financial schemes designed to obscure the origins of the money (Hindustan Times).

Originally reported by Hindustan Times·Published 15 Jul 2026, 02:57