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Ebix chairman held 10 days in Mahadev app laundering case
Chhattisgarh court remanded Ebix chairman Vikas Garg to ED custody for 10 days in a Rs 4,000-crore money laundering case tied to the Mahadev betting app.
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Vikas Garg, the chairman of Ebix Group, was remanded to Enforcement Directorate custody for ten days by a Chhattisgarh court on Monday. The order comes in a multi-crore money laundering investigation tied to the Mahadev betting app.
The ED alleged that Garg dissipated and encumbered company shares and property during the probe. The agency had previously attached assets worth over Rs 940 crore belonging to Garg.
The case centers on allegations that funds routed through the Mahadev app were laundered using Ebix's payment infrastructure.