India’s Enforcement Directorate (ED) has filed a new charge against Nishant Pitti, co-founder and Chairman-cum-Managing Director of EaseMyTrip, at September 21, 2026, in the money-laundering investigation linked to Mahadev Online Book, an illegal betting network that authorities value at around ₹5,000 crore. The charge was filed on September 10, 2026 before a special court under the Prevention of Money Laundering Act (PMLA) in Raipur, Chhattisgarh.
The ED alleges that Pitti took part in a structure designed to channel proceeds from illegal betting into India’s stock market through Foreign Portfolio Investments and transactions involving shares of Easy Trip Planners Limited, the parent company of EaseMyTrip. According to the investigation, the scheme allegedly involved Amardeep Sharma and Hari Shankar Tibrewal, who has been accused of operating from Dubai and maintaining links with Skyexchange.
The agency is also seeking the confiscation of DEMAT shares linked to Pitti worth ₹59.60 crore, around ₹596 million, which are already subject to attachment measures. Final confiscation still requires judicial approval.
Mahadev Online Book has been attributed by the ED to Sourabh Chandrakar and Ravi Uppal, both originally from Bhilai and accused of running operations from the United Arab Emirates through platforms including Mahadev Online Book, Skyexchange, Tiger Exchange, Gold365 and Laser247.
The investigation has also expanded substantially in terms of assets. In March 2026, the ED’s Raipur office provisionally attached assets worth around ₹1,700 crore, including 18 properties in Dubai and two in New Delhi, with assets located in Dubai Hills Estate, Business Bay, SLS Hotel & Residences and Burj Khalifa.
Rahul Navin
The ED, headed by Rahul Navin, operates under the Department of Revenue of the Ministry of Finance and enforces the PMLA in money-laundering investigations.
Pitti denies the allegations, maintains that his assets come from lawful sources and says his transactions were conducted through formal banking channels. As of September 2026, there is no judicial conviction against him, and the accusations remain allegations made by the Enforcement Directorate.
