ED accuses EaseMyTrip promoter of laundering betting proceeds via stock market

India's Enforcement Directorate has charged EaseMyTrip promoter Nishant Pitti in the Mahadev betting app money-laundering case, alleging he helped SkyExchange owner Hari Shankar Tibrewal route about Rs 60 crore into the stock market through foreign portfolio investment entities. Shares worth Rs 59.6 crore in his demat account were provisionally attached.

• ED calls Pitti a "close associate" of co-accused Hari Shankar Tibrewal
• FPI AG Dynamic Funds bought 1,51,50,866 Easy Trip Planners shares worth Rs 59.6 crore
• Pitti allegedly held a betting ID on SkyExchange and co-sponsored a 2022 cricket series with it
• ED says the Mahadev network has generated Rs 75,000–80,000 crore since 2019 and still operates