Key Points
The Enforcement Directorate arrested Ebix Chairman and BJP economic cell convenor Vikas Garg in connection with the Mahadev betting app money laundering investigation.
The agency had earlier attached assets worth Rs 940.77 crore linked to Garg, his family members and companies allegedly controlled by him.
The BJP has distanced itself from the arrest, stating the matter pertains to Garg's business dealings and has no connection with the party.
THE ENFORCEMENT DIRECTORATE (ED) has arrested Ebix Chairman Vikas Garg in connection to the Mahadev app money laundering probe on Tuesday, July 14, 2026. Vikas Garg is an office-bearer of the Bharatiya Janata Party (BJP), serving as national convenor of the party’s economic cell. He is also the son of BJP MLA from Delhi’s Trinagar constituency, Nand Kishore Garg.
The ED picked up Garg from his residence in Delhi. Garg is scheduled to be taken to Raipur, Chhattisgarh , after the Tis Hazari court issued a transit remand, and will be produced before a special court dealing with the Prevention of Money Laundering Act (PMLA) on Wednesday, July 15, 2026.
Garg’s arrest comes consequent to the ED provisionally attached crores of properties and other assets linked to him. On June 18, 2026, the federal agency attached assets amounting to Rs 940.77 crore belonging to Garg, his family members, and companies allegedly owned or controlled by him. 12 properties located across Delhi, Nainital, Goa, and other locations that are owned by Garg and his family members were also included in the ED move.
“The attachment forms part of the ongoing money laundering investigation into the Mahadev Online Book / Skyexchange illegal online betting case,” an ED official said.
The ED further alleges that the illegal funds that the money laundering scheme generated were routed and further processed through these assets. “The funds were allegedly used for acquiring shares, securities and other assets. Garg is the promoter of three listed companies — Vikas Ecotech Limited, Vikas Lifecare Limited and Eraaya Lifespaces Limited,” a source pertaining to the Indian Express stated.
During its investigation, the ED discovered that Garg had allegedly acquired a 64% stake in EbixCash through Eraaya Lifespaces Limited, using funds believed to have been generated from illegal betting activities.
The BJP has denied having any hands in Garg’s misgivings, stating that his arrest has ‘nothing to do with the party’ and is related to his ‘business interests.’ In a statement, Delhi BJP spokesperson Pravin Shankar Kapoor said: It [Garg’s arrest] may have been due to his business avenues, the party has nothing to do with it.”
The Mahadev Online Book is a betting app created by two individuals hailing from Chhattisgarh, Saurabh Chandrakar and Ravi Uppal. The Mahadev App forms part of one of the biggest betting syndicates in the country, as per the Central Bureau of Investigation (CBI), wherein millions of users were contacted via social media to run illegal betting panels across several states.
The application was launched during the COVID-19 pandemic and quickly evolved into a network of online gambling and pyramid schemes designed to siphon off funds. Users of the platform were duped, and the money was allegedly diverted to Uppal and Chandrakar through hawala channels.
The ED launched its probe based on an FIR filed by the Chhattisgarh Police in Durg, along with multiple other FIRs registered in Chhattisgarh, Andhra Pradesh, West Bengal, and various other states. These cases were filed against operators, promoters, and associates of illegal online betting platforms on charges such as criminal conspiracy, cheating, and forgery, according to an ED spokesperson.
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This isn't the first time the Ebix chairman has come under ED scanner. Garg was questioned by the ED in November 2025 in connection with a separate money laundering case linked to an alleged Rs 190 crore customs duty fraud. According to the agency, the case involved the illegal import of betel nuts and other goods, which were allegedly diverted into the domestic market using forged export documents to fraudulently claim duty-free benefits.
The ED identified Garg as a key accused and questioned him for over seven hours. Several of his employees and associates were also interrogated during the probe. The action came after searches conducted on November 12 at properties linked to Garg and others, based on a CBI FIR that alleged the use of forged shipping documents to evade customs duty.
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