Mahadev case: ED seizes Rs 1700 crore assets, including Burj Khalifa flats
Raipur, March 25 (IANS) The Directorate of Enforcement (ED), Raipur Zonal Office, has delivered a major blow to the illegal online betting syndicate by provisionally attaching properties worth nearly Rs 1,700 crore in the high-profile Mahadev Online Book betting case.
In a Provisional Attachment Order (PAO) issued on March 24, 2026, under the Prevention of Money Laundering Act (PMLA), 2002, the ED has attached 18 luxurious immovable properties in Dubai (UAE) and 2 prime properties in New Delhi.
The Dubai assets, located at premium locations, include high-value villas and apartments in Dubai Hills Estate (Hills View, Fairway Residency and Sidra), multiple high-end apartments in Business Bay, SLS Hotel & Residences, and apartments in the iconic Burj Khalifa.
These properties belong to Sourabh Chandrakar, one of the main promoters of the Mahadev Online Book betting application, and are held in the name of entities controlled by him and his associates, including Vikas Chhaparia, Rohit Gulati, Atul Arora, Nitin Tibrewal and Surendra Bagri.
The ED’s investigation has established that these high-value assets were purchased using proceeds of crime generated by large-scale illegal online betting operations run through the Mahadev Online Book platform and other similar apps, such as Tiger Exchange, Gold365, and Laser247.
The syndicate operated as an international betting network with a franchise-based model of “panels” or “branches” across India, while the main promoters, Sourabh Chandrakar and Ravi Uppal, controlled operations from Dubai.
They allegedly retained 70-75 per cent of the profits, with the rest distributed among panel operators.
The illicit funds were layered through thousands of mule bank accounts and transferred abroad via hawala channels and cryptocurrency before being invested in luxury real estate in the UAE and India.
So far, the ED has conducted searches at over 175 premises across the country, arrested 13 persons, and filed five prosecution complaints arraigning 74 accused before the Special PMLA Court in Raipur.
Applications have also been filed under the Fugitive Economic Offenders Act against Sourabh Chandrakar, Ravi Uppal, Anil Agrawal and Shubham Soni.
With this latest attachment, the total value of properties attached or seized in the case has reached approximately Rs 4,336 crore.
The ED has reiterated its commitment to completely dismantle the illegal betting ecosystem and its international financial network.
Further investigation is in progress.
–IANS
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