{"id":777009315,"date":"2023-09-15T06:16:33","date_gmt":"2023-09-15T09:16:33","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777009315"},"modified":"2026-04-22T18:04:08","modified_gmt":"2026-04-22T21:04:08","slug":"authorities-freeze-assets-in-mahadev-book-probe","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/authorities-freeze-assets-in-mahadev-book-probe","title":{"rendered":"Authorities freeze assets in Mahadev Book probe"},"content":{"rendered":"\n<p>The Enforcement Directorate has seized assets as part of investigations into the app.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>India.- <strong>The Enforcement Directorate (ED) <\/strong>has frozen and confiscated assets valued at Rs 417 crore (US$50.21m) in connection with investigations into the online betting app Mahadev Book. <\/p>\n\n\n\n<p>The company, allegedly operated by <strong>Sourabh Chandrakar<\/strong> and <strong>Ravi Uppal<\/strong> from Dubai, is accused of using an online book betting application to onboard new users and of laundering money through a network of benami (unnamed) bank accounts. The ED says Mahadev operates from a central headquarters in the UAE and follows a franchising model by offering &#8220;Panel\/Branches&#8221; to known associates on a 70-30 profit-sharing basis.<\/p>\n\n\n\n<p>The agency stated, &#8220;The ED has recently conducted extensive searches targeting money laundering networks associated with the Mahadev APP in cities like Kolkata, Bhopal, and Mumbai, recovering substantial incriminating evidence and freezing\/seizing proceeds of crime amounting to Rs 417 crore.&#8221;<\/p>\n\n\n\n<p><strong>See also:\u00a0<\/strong><a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/india-4-arrested-in-connection-with-mahadev-book-gambling-app-case\" target=\"_blank\">India: 4 arrested in connection with Mahadev Book gambling app case<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Enforcement Directorate has seized assets as part of investigations into the app.<\/p>\n","protected":false},"author":176,"featured_media":15979,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Enforcement Directorate in India has frozen and confiscated assets valued at US$50.21 million linked to the Mahadev Book online betting application. This action stems from ongoing investigations into alleged money laundering and illicit operations, with the app reportedly run from the UAE using a franchising model and benami accounts to onboard users and process funds. The case highlights significant regulatory compliance and financial crime risks within the unregulated online betting sector.","focusai_entities":"Enforcement Directorate (ED), Mahadev Book, Sourabh Chandrakar, Ravi Uppal","focusai_location":"India, Dubai, UAE, Kolkata, Bhopal, Mumbai","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (1.0), operator_casino (0.8), payments_fraud_aml (1.0), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Cross-border Enforcement?","query":"What specific international cooperation mechanisms are being leveraged by the Enforcement Directorate to target the alleged operators based in Dubai, and what are the implications for cross-border regulatory compliance in iGaming?"},{"label":"Impact on Market Integrity?","query":"How will this significant asset seizure and ongoing investigation into Mahadev Book impact the broader market integrity and the operational landscape for legitimate, regulated iGaming entities in India and neighboring jurisdictions?"}],"footnotes":""},"categories":[439,16334],"tags":[23911],"class_list":["post-777009315","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legal-news","category-south-asia-news","tag-gambling-regulation"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777009315","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777009315"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777009315\/revisions"}],"predecessor-version":[{"id":777009318,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777009315\/revisions\/777009318"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/15979"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777009315"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777009315"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777009315"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}