https://www.taxtmi.com/news?id=73812 The Enforcement Directorate arrested Ebix Group chairman Vikas Garg under the Prevention of Money Laundering Act in an investigation concerning alleged laundering of proceeds from Mahadev Online Book and Skyexchange betting operations. The agency alleges that betting proceeds were routed through hawala entries, shell entities and layered transactions into entities owned or controlled by Garg, and used to acquire shares, securities and other assets. It further alleges that Garg acquired a controlling stake in EbixCash using such funds. The investigation concerns a franchise-based betting syndicate operating through multiple online platforms. en-us Tue, 14 Jul 2026 19:31:04 +0530 Tue, 14 Jul 2026 19:31:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=73812 The Enforcement Directorate arrested Ebix Group chairman Vikas Garg under the Prevention of Money Laundering Act in an investigation concerning alleged laundering of proceeds from Mahadev Online Book and Skyexchange betting operations. The agency alleges that betting proceeds were routed through hawala entries, shell entities and layered transactions into entities owned or controlled by Garg, and used to acquire shares, securities and other assets. It further alleges that Garg acquired a controlling stake in EbixCash using such funds. The investigation concerns a franchise-based betting syndicate operating through multiple online platforms. News - Tue, 14 Jul 2026 19:31:04 +0530 https://www.taxtmi.com/news?id=73812