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Nishant Pitti, co-founder and CEO of inch company EaseMyTrip, is in sizzling water as India’s Enforcement Directorate (ED) delves deeper into the sprawling Mahadev betting app case. In conserving with filings submitted with the Adjudicating Authority below the Prevention of Cash Laundering Act (PMLA), Pitti allegedly modified into once attentive to Sky Change, a shadow betting platform linked to the Mahadev network.

Authorities Suspect Connections with Prison Networks

The ED alleges Pitti’s inch company modified into once instrumental in facilitating transactions tied to the illegal betting operation. In conserving with investigators, EaseMyTrip had a pair of monetary transactions with two suspected shell companies, Nischay Buying and selling Pvt Ltd and Silvertoss Purchasers Pvt Ltd, which shall be reportedly phase of the Sky Change ecosystem. Authorities ponder the 2021 payments will be phase of an even bigger cash laundering blueprint.

An April raid at Pitti’s place of residing uncovered ₹7 lakh ($8,200) in cash. The company believes the sum will be connected to doable prison exercise. Whereas the sum is now not mighty on its possess, the ED renowned it is going to now not rule out that you just’re going to be ready to ponder connections to the illegal operation, especially given the timing and context of the continued probe.

The ED’s case hinges on files retrieved from a pc linked to Prashant Bagri, an alleged operator one day of the Mahadev network. In conserving with authorities, the files lists Pitti as an “agent” for Sky Change, displaying dialog logs referencing EaseMyTrip.The ED additionally alleges Pitti former illicit features from the Mahadev betting network to manipulate the stock costs of as much as 25 publicly listed companies.

Pitti Faces No Formal Prices

Pitti has vehemently rejected the accusations levied against him. In an interview with The Economic Cases, he pushed aside the allegations as baseless, adding that his company had now not dealt with the named companies since 2017. He additionally commented on the cash seizure, noting that every particular person of his monetary dealings have been fully clear.

I don’t know this particular person, and we haven’t made any payments to those companies since 2017. I’ve never even heard of those names sooner than.

Nishant Pitti, EaseMyTrip co-founder and CEO

The Mahadev betting case stays one of many principle gambling busts in contemporary history. The Dubai-based completely operator ran a sprawling operation, the exercise of cunning workarounds to present unauthorized betting products and companies to Indian clients. The community’s estimated illegal gambling revenues exceed ₹15,000 crore ($1.75m). Mahadev’s alleged kingpin, Saurabh Chandrakar, modified into once arrested in Dubai in late 2024, marking a crushing blow to the organization.

Whereas Pitti has now not been charged or arrested, Pitti is now a formal respondent within the case of the ED. Factual consultants present that he might perchance perchance maybe undergo asset attachments, extra summons, and that you just’re going to be ready to ponder court docket court docket cases reckoning on the outcomes of the continued investigation. Whereas it stays to be seen whether or now not the ED’s claims stand, this most contemporary vogue underscores India’s continued crackdown on all entities connected with illegal betting companies.