According to a news report, the Enforcement Directorate (ED) is currently probing a large-scale money laundering case linked to the Mahadev Betting App. As part of this ongoing investigation, ED has conducted searches at multiple locations, including one reportedly associated with Nishant Pitti, co-founder of EaseMyTrip.
This comes on the heels of previous enforcement actions, including a Central Bureau of Investigation (CBI) search in March 2024 at the residence of former Chhattisgarh Chief Minister Bhupesh Baghel, also linked to the same case.
The Mahadev Betting App case stems from an FIR alleging illegal online gambling and cyber fraud amounting to ₹15,000 crore. The FIR named 32 individuals, including the app’s alleged promoter Saurabh Chandrakar, as well as Ravi Uppal and Shubham Soni.
These individuals are accused of running unauthorised online betting platforms, defrauding users, and funnelling large sums through illegal channels since 2019. Authorities suspect a complex web of financial irregularities involving fake user IDs, digital wallets, and offshore transactions.
According to the report, ED reportedly searched over 50 locations as part of its nationwide crackdown. Among the premises visited was one belonging to EaseMyTrip. The company’s association with a high-profile case of this magnitude immediately drew public and media attention.
Although there was no direct mention of wrongdoing by EaseMyTrip in official statements, the presence of its name in connection with the searches created speculation and concern, prompting the company to release an official clarification.
Responding swiftly to the reports, EaseMyTrip issued a public statement distancing itself from the Mahadev Betting App controversy. A spokesperson for the company said: “As per information available in the public domain, the ED conducted searches at over 50 locations of various persons/ corporates. Amongst them, one was the EaseMyTrip premises. While EaseMyTrip has no direct or indirect association with the Mahadev Betting App or any other betting platform, we remain fully committed to cooperating with the authorities throughout the course of the investigation.”
The company reiterated its transparency and emphasised its full cooperation with law enforcement agencies.
Given the scale of the alleged ₹15,000 crore fraud and the high-profile individuals already implicated, any association—however indirect—with the case could risk public trust, especially for a consumer-facing brand like EaseMyTrip.
Clarifying its position was crucial to protect its reputation, maintain investor confidence, and prevent any misinformation from circulating during a sensitive, high-stakes investigation.
As of 3:20 pm on April 17, 2025, EaseMyTrip share price was trading at ₹12.33, a 1.15% up.
The ED’s probe into the Mahadev Betting App case continues to uncover complex layers of alleged financial misconduct. As the investigation expands, even unintentional associations can lead to scrutiny.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
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Published on: Apr 17, 2025, 3:29 PM IST
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