ED Attaches Rs 91.82 Cr in Mahadev Betting Case; Flags FPI 'Cashback' Route

• The Enforcement Directorate (ED) attached movable and immovable properties worth Rs 91.82 crore in the Mahadev Online Book (MOB) and Skyexchange.com illegal betting case.
• Attached assets include bank balances of Perfect Plan Investment LLC and Exim General Trading - GZCO, linked to accused Sourabh Chandrakar, Anil Kumar Agarwal, and Vikas Chhaparia.
• Properties worth Rs 17.5 crore belonging to Gagan Gupta, an associate of Skyexchange.com owner Hari Shankar Tibrewal, were also attached.
• Investigation revealed illegal betting proceeds were laundered through hawala, crypto-assets, and routed back to India's stock market via Foreign Portfolio Investors (FPIs).
• ED uncovered a 'cashback' scheme where FPIs invested in Indian listed companies, receiving 30-40% back in cash from promoters like Salasar Techno Engineering Ltd and Tiger Logistics Ltd.

Why It Matters: ED's action exposes a complex web of illegal betting, money laundering, and stock market manipulation.