The Enforcement Directorate has taken a major step in its probe into the Mahadev Book illegal betting and money laundering operation by filing a formal chargesheet under the Prevention of Money Laundering Act (PMLA) against the promoter of EaseMyTrip, an Indian online travel booking company.
According to sources familiar with the development, the ED treats the EaseMyTrip chief as an accused in the case, alleging that proceeds of crime linked to the Mahadev Book operation were invested in the promoters equity stake of the company. The agency is now seeking confiscation of those shares, which would represent one of the most significant asset seizure moves in the case so far.
The Mahadev Book case has been one of India's largest illegal online betting and money laundering investigations. Law enforcement agencies have alleged that the unauthorised betting platform operated across multiple states, collecting enormous sums from bettors and funneling the proceeds through a network of front companies and shell accounts. The ED has previously carried out searches at multiple locations connected to the racket, and several individuals have already been arrested in connection with the probe.
What makes this latest development notable is the direct link between the travel portal's promoter and the betting syndicate. Investigators have alleged that funds siphoned through the Mahadev Book were channelled into legitimate business ventures, including investments in startups and established companies, effectively laundering dark money through clean corporate structures.
EaseMyTrip, founded by Rohni Mistry, has been one of India's prominent online travel companies competing with larger players such as MakeMyTrip and Yatra. The firm went public through an IPO in 2021, and its stock has attracted retail investor interest. Legal experts note that if the court upholds the ED's confiscation plea, it could trigger a significant ownership change at the listed company and raise fresh questions about compliance and due diligence in Indian corporate governance.
The chargesheet has been submitted before a specialized PMLA court, and the next hearing will focus on whether the court orders attachment or confiscation of the implicated shares while the trial proceeds.
