ED Chargesheets EaseMyTrip Cofounder Nishant Pitti In Mahadev Betting Case

The Enforcement Directorate (ED) has chargesheeted EaseMyTrip cofounder and chairman Nishant Pitti in the Mahadev online betting app money laundering case, accusing him of facilitating the entry of alleged illegal betting proceeds into the Indian stock market through FPIs.

The ED filed its fifth supplementary prosecution complaint before a special PMLA court in Raipur on September 10, according to The Indian Express. This is the sixth chargesheet filed by the agency in the wider money laundering investigation.

The agency also provisionally attached demat shares belonging to Pitti worth ₹59.6 Cr under the Prevention of Money Laundering Act (PMLA). It has sought the court’s permission to confiscate the shares, alleging that they constitute proceeds of crime.

Responding to Inc42, Pitti said he was not aware of any chargesheet and had not been summoned by the jurisdictional court. 

“I have always strived to uphold the highest standards of governance and ethics in my professional and personal dealings,” Pitti said, adding that all his transactions comply with applicable laws and that his assets were acquired through lawful sources of income and formal banking channels.

He further said he would contest any contrary allegations before the courts and expressed confidence that the legal process would establish the facts. Pitti also urged against speculation around ongoing judicial proceedings.

“I shall submit detailed evidence to establish my bona fide conduct, in accordance with the procedure prescribed by law,” he added.

Separately, EaseMyTrip said it had not received any formal communication regarding legal proceedings against the company or Pitti.

“Easy Trip Planners Limited has not received any formal intimation of legal proceedings against the company or its director, Mr Nishant Pitti,” an EaseMyTrip spokesperson said.

Pitti’s name first surfaced in the ED’s investigation last year. In April 2025, the agency conducted searches at multiple locations linked to Pitti and EaseMyTrip across Delhi NCR, Mumbai, Chandigarh, Ahmedabad, Indore, Jaipur, Chennai, and Sambalpur. Pitti was subsequently questioned by the agency.

The ED alleged then that Pitti was connected to a network of operators accused of using betting proceeds to manipulate the stock prices of several listed companies.

At the time, EaseMyTrip denied any direct or indirect association with the Mahadev betting app or any other betting platform and said it was cooperating with the authorities.

ED’s Mahadev Betting Case Probe 

The latest development comes after Mahadev betting app promoter Sourabh Chandrakar was detained by the Royal Oman Police earlier this year following an Interpol Red Notice issued at the request of the ED and the Chhattisgarh Police. Indian authorities are seeking his extradition or deportation.

In March, the ED provisionally attached properties worth ₹1,700 Cr belonging to Chandrakar and entities allegedly linked to him in Dubai and New Delhi.

The assets included 18 luxury properties in Dubai, including villas and apartments in Burj Khalifa, Dubai Hills Estate, Business Bay, and SLS Hotel & Residences, besides two properties in New Delhi.

The agency alleged that the properties were acquired using proceeds from illegal betting operations and held through entities controlled by Chandrakar and his associates.

According to the latest available figures cited in the chargesheet report, the ED has arrested 14 people and attached assets worth ₹1,885 Cr in the case so far.

Shares of EaseMyTrip were trading 2.41% higher at ₹5.94 on the BSE at 14:35 IST.

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