ED Attaches Rs 940.77 Crore Assets in Mahadev Betting Case

The Directorate of Enforcement (ED) has attached movable and immovable properties worth Rs. 940.77 crore belonging to Vikas Garg and his associates. This action is part of the ongoing money laundering probe into the Mahadev Online Book and Skyexchange illegal betting syndicate.

What Happened

The Raipur Zonal Office of the Directorate of Enforcement (ED) issued a Provisional Attachment Order under the Prevention of Money Laundering Act (PMLA), 2002, attaching properties valued at Rs. 940.77 crore. This attachment targets assets belonging to Vikas Garg, his family members, and entities under his control, according to an agency press release (Lokmat Times).

These attached assets include residential properties, land parcels, equity shares, and various other securities, as reported by Lokmat Times. This enforcement action is part of the ongoing investigation into alleged money laundering associated with the Mahadev Online Book and Skyexchange illegal betting syndicate.

Key Details

• The latest attachment targets movable and immovable properties worth Rs. 940.77 crore belonging to Vikas Garg, his family, and controlled entities (Lokmat Times, Ommcomnews).
• These assets include residential properties, land parcels, equity shares, and other securities, reportedly attached under the Prevention of Money Laundering Act (PMLA), 2002 (Lokmat Times, MoneyLife).
• The Mahadev and Skyexchange operations reportedly generated over Rs 450 crore monthly through illegal betting (Lokmat Times).
• The investigation by the ED found that illicit funds were laundered through a network of shell entities and accommodation entries (Lokmat Times).
• Funds amounting to approximately Rs 940.77 crore from the betting operations were routed into entities owned and controlled by Garg, then used to acquire various high-value assets (Lokmat Times, Daily Pioneer).
• With this latest order, the cumulative value of properties attached, seized, or frozen in this case has now reached approximately Rs 3,800 crore (Lokmat Times, Asianet Newsable).
• The ED has previously issued seven Provisional Attachment Orders and filed prosecution complaints before the Special Court (PMLA) in Raipur (Lokmat Times).
• Earlier attachments and seizures, including foreign assets, totaled around Rs 2,825 crore (Lokmat Times).

Why It Matters

This action represents a significant escalation in the ongoing money laundering investigation targeting one of India’s largest alleged illegal online betting networks, as stated by the agency (Lokmat Times). The ED initiated its probe based on multiple First Information Reports (FIRs) filed by police in various states, including Chhattisgarh, Andhra Pradesh, and West Bengal (Lokmat Times).

The FIRs alleged criminal conspiracy, cheating, and forgery against the promoters, operators, and associates linked to these betting platforms (Lokmat Times). This development underscores the investigative agency’s continuous pursuit of the financial infrastructure that reportedly supports illegal betting activities leveraging digital platforms (Lokmat Times).

What’s Next

Further investigation into the broader conspiracy and additional beneficiaries associated with the Mahadev Online Book and Skyexchange illegal betting syndicate is currently underway (Lokmat Times).

Originally reported by Lokmat Times·Published 10 Jul 2026, 10:15