The Enforcement Directorate has named EaseMyTrip co-founder Nishant Pitti in a supplementary chargesheet linked to the Mahadev online betting case. The agency alleges that proceeds of crime were channelled into Indian equity markets through foreign portfolio investments and related transactions. The ED has also provisionally attached DEMAT shares valued at ₹59.60 crore, according to the supplied report. Pitti has denied knowledge of the chargesheet and said his financial dealings complied with applicable laws. Easy Trip Planners said it had not received formal intimation of proceedings.

ED Charges EaseMyTrip Co-Founder Nishant Pitti in Mahadev Betting App Case

The Enforcement Directorate has named EaseMyTrip co-founder Nishant Pitti in a money laundering case related to the Mahadev online betting case. The ED has alleged that proceeds of crime were diverted into Indian equities.

The case of the Mahadev betting app has taken a new turn after the Enforcement Directorate has charged-sheeted EaseMyTrip co-founder Nishant Pitti for allegedly being involved in money laundering activities.

The fifth supplementary chargesheet was filed by the agency before a special PMLA court in Raipur, Chhattisgarh, on September 10.

The Enforcement Directorate said that Pitti allegedly facilitated the entry of illegal betting money into the Indian equity markets through foreign portfolio investments and related financial deals.

The agency also provisionally attached DEMAT shares of Pitti worth Rs 59.60 crore, terming the assets as alleged proceeds of crime under anti-money laundering law.

The ED has moved the court seeking permission to attach the shares. The allegations are sub judice, and Pitti’s legal response is awaited.

Pitti, 40, is the chairman and managing director of Easy Trip Planners Limited, the holding company of EaseMyTrip, and denied any knowledge of the chargesheet.

Pitti disputes knowledge of ED chargesheet

I am not aware of any chargesheet and have not been summoned by the court. I will continue to co-operate with the enforcement authorities, Pitti said.

He claimed he had always cooperated with the authorities and would give detailed evidence of his bona fide conduct as per the procedure laid down by law.

My professional and personal dealings are governed by standards of governance and ethics, and my transactions have been in compliance with applicable laws, Pitti added. 

He said his assets were obtained through legitimate earnings and formal banking channels, and he would contest any claims to the contrary in the courts.

Easy Trip Planners Limited also said it has not received any formal intimation about any legal proceedings against the company or its director Nishant Pitti.

The Enforcement Directorate said its probe found Pitti to be a close associate of Hari Shankar Tibrewal, owner of Dubai-based Skyexchange, according to the chargesheet.

The agency had claimed that Pitti was part of a pre-arranged deal to manipulate the stock price with an associate of Tibrewal and promoters of Easy Trip Planners Limited.

The arrangement was allegedly to artificially inflate Easy Trip Planners’ share price and market capitalisation and also to help layer the alleged betting proceeds, the ED said.

The agency also cited as evidence of an operational link EaseMyTrip’s co-sponsorship in 2022 of a cricket series in India with Skyexchange.

The ED alleged that Tibrewal controlled foreign entities that routed proceeds generated by Skyexchange into Indian share markets through investment structures.

The agency searched Pitti’s premises as part of the investigation in April 2025 and questioned him three times, twice in August.

Also Read: PMLA Court Defers Charge Framing Against Hemant Soren Again

Mahadev betting probe expands across companies and individuals

The chargesheet names 42 persons and companies, including EBIX Group chairman Vikas Garg, who was arrested in July after an ED raid at his residence in Delhi.

Garg remains in judicial custody, and following his arrest, the Delhi BJP cancelled his primary party membership and removed him as the economic cell convenor.

The Mahadev Online Book or MOB is operated mainly by absconding businessmen Sourabh Chandrakar and Ravi Uppal from Chhattisgarh.

The Mahadev platform has generated proceeds of crime of about Rs 80,000 crore since 2019, the agency claims, and Interpol Red Notices have been issued against Chandrakar and Uppal.

The ED has separately claimed that Skyexchange, which started operations in 2016, generated proceeds of crime to the tune of Rs 12,000 crore.

ED records wider financial trail

The agency had alleged that Vikas Garg and entities owned or controlled by him received Rs 765.77 crore from entities owned or controlled by Tibrewal.

The chargesheet alleged that Garg used that money to acquire US-based Ebix Inc. Garg’s statement under PMLA reportedly admitted to receiving money from Tibrewal’s overseas entities.

Garg knew that Tibrewal was involved in illegal betting and that the money was proceeds generated through activities related to Skyexchange, the ED said.

This is the sixth chargesheet filed by the ED in the case, comprising one main chargesheet and five supplementary chargesheets. The investigation against three accused is continuing.

The other accused mentioned in the case include operators of panels, who allegedly worked for the Mahadev betting app and its broader operational network.

Investigation continues under PMLA

The Enforcement Directorate said it has arrested 14 persons, attached assets worth Rs 1,885 crore, named 116 accused and carried out searches at 190 premises across the country.

The money laundering case was registered in October 2022 on the basis of FIRs and chargesheets filed by Chhattisgarh Police that became the basis for the federal probe.

The ED’s larger Mahadev probe too has seen searches and attachment of assets linked to alleged betting proceeds, including a number of properties tied to top promoters.

The latest chargesheet details how investigators are probing alleged links between betting proceeds, foreign investment structures, stock-market transactions and corporate entities, Sprouts News reported.

The matter will now go through the judicial process, and allegations against Pitti and others accused will have to be adjudicated as the ED continues its remaining investigation.