Mumbai ED probe Archives - Square Feat India https://squarefeatindia.com/tag/mumbai-ed-probe/ Real Estate News Website Wed, 24 Sep 2025 06:40:27 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://squarefeatindia.com/wp-content/uploads/2019/12/squrefeatindia_favicon.png Mumbai ED probe Archives - Square Feat India https://squarefeatindia.com/tag/mumbai-ed-probe/ 32 32 ED Attaches Assets Worth ₹307 Crore Linked to Illegal Betting App ‘Fairplay’ https://squarefeatindia.com/ed-attaches-assets-worth-%e2%82%b9307-crore-linked-to-illegal-betting-app-fairplay/ Wed, 24 Sep 2025 06:40:26 +0000 https://squarefeatindia.com/?p=9919 The Enforcement Directorate has provisionally attached assets worth ₹307.16 crore in connection with the Fairplay betting app probe, taking the total seizures in the case to ₹651.31 crore. The assets include Dubai properties and bank balances linked to mastermind Krish L Shah and associates.

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]]> In a major crackdown on online betting and illegal broadcasting, the Enforcement Directorate’s (ED) Mumbai Zonal Office has provisionally attached assets worth ₹307.16 crore under the Prevention of Money Laundering Act (PMLA), 2002. The move comes as part of the ongoing probe into the controversial betting platform “Fairplay.”

Assets Under Attachment

The provisionally attached assets include:

Type of AssetLocationValue (Approx.)
Bank balances (movable)India & AbroadPart of ₹307.16 Cr total
Villas, flats, landsDubai, UAEPart of ₹307.16 Cr total

The ED noted that these assets were acquired through illegal betting proceeds and laundered money routed abroad via trade-based mechanisms.

How the Case Began

The investigation was triggered by an FIR filed by Viacom18 Media Pvt. Ltd. with the Nodal Cyber Police in Mumbai against M/s Fairplay and others.

  • Allegations included illegal broadcasting, copyright violations, and online betting activities.
  • The FIR estimated a loss of over ₹100 crore in revenue.
  • Multiple other FIRs against Fairplay and its associates were later consolidated for investigation.

Modus Operandi: Offshore Companies & Laundering

According to the ED probe, Krish Laxmichand Shah, identified as the key mastermind, created multiple companies across global jurisdictions to operate Fairplay:

  • Curacao: M/s Play Ventures N.V, M/s Dutch Antilles Management N.V
  • Dubai (UAE): M/s Fair Play Sport LLC, M/s Fairplay Management DMCC
  • Malta: M/s Play Ventures Holding Limited

Shah, along with associates like Anil Kumar Dadlani, allegedly managed Fairplay primarily from Dubai. The investigation found that Shah, his family, and associates acquired assets in their own names and in the names of related entities across the UAE.

Previous Action by ED

The case has been under ED’s lens for over a year with multiple enforcement steps:

DateAction Taken
12.06.2024, 27.08.2024, 27.09.2024 & 25.10.2024Search operations, seizure/freezing of assets and digital devices
22.11.2024, 26.12.2024 & 15.01.2025Provisional Attachment Orders issued
12.02.2025Arrest of key accused Chintan Shah and Chirag Shah
01.04.2025Prosecution Complaint filed in PMLA Court
25.04.2025Court took cognizance of the complaint

With the latest attachment, the total assets seized/attached in the case now amount to ₹651.31 crore.

What Lies Ahead

The ED has confirmed that further investigation is ongoing, especially into fund flows abroad and asset acquisitions in the UAE. Officials suggest that the scale of operations indicates “proceeds of crime” running into several hundred crores.

Also Read: ED attaches Sanjay raut’s property

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