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Mahadev betting funds used for Ebix buy: Enforcement Directorate

The Enforcement Directorate alleges illegal betting funds financed a major acquisition. Vikas Garg's firm Eraaya Lifespaces acquired US software company Ebix using these funds. Money was routed through overseas structures and investment mechanisms. The agency has attached assets worth over 940 crore in this case. This investigation stems from multiple FIRs against betting platform operators.

16 Jul 2026 2:02 am