New Delhi, September 15 The Enforcement Directorate (ED) has seized and 'frozen' assets worth Rs 417 crore in the Mahadev online betting case.

The officials gave this information. Officials alleged that the company, operating from Dubai, used to add new users, using user IDs. (ID) and used online betting applications to launder money through several benami bank accounts. The founders of the company are Saurabh Chandrakar and Ravi Upal. The agency alleged in a statement, “E.D. Mahadev APP recently launched in Kolkata, Bhopal, Mumbai etc. A large-scale raid was conducted against the money laundering network associated with During this time, he collected many evidences and the proceeds of crime amounting to Rs. 417 crores have been confiscated.

Officials said that E.D. An investigation has revealed that 'Mahadev Online Book App' is operated from its central headquarters in the United Arab Emirates. E.D. Said that it works by giving the franchise of 'Panel' to its associates on a profit ratio of 70-30 percent. The agency said large-scale remittance operations are carried out to transfer the betting proceeds to foreign accounts. E.D. said that a huge amount of cash is also being spent in India on betting website advertising to attract new users and franchise (panel) aspirants. The founders of the company hail from Bhilai, Chhattisgarh and 'Mahadev Online Book Betting Application' is a leading medium to provide an online platform for illegal betting websites.