Three-Year Manhunt Ends: 'Mahadev' Betting Kingpin Arrested

New Delhi: The law has finally caught up with Saurabh Chandrakar, a prominent figure in the murky world of online betting. Chandrakar—a co-promoter and operator of the 'Mahadev Online Book' betting syndicate, who had managed to evade investigative agencies for nearly three years—is now in the custody of the Enforcement Directorate (ED). He was arrested by the ED on November 13, 2026, under Section 19 of the Prevention of Money Laundering Act (PMLA), 2002. A special PMLA court in Raipur has remanded him to seven days of ED custody until November 19. He is the first promoter of this syndicate to be brought back to India.

According to the ED’s investigation, Saurabh Chandrakar and his associate, Ravi Uppal, operated several online betting websites under the banner of 'Mahadev Online Book' from their headquarters in Dubai. A vast network of betting panels and franchises was established across India and the United Arab Emirates. Funds collected from participants were routed into the bank accounts of third parties and subsequently siphoned abroad via the *hawala* (informal money transfer) system. In a complaint filed on October 20, 2023, the ED estimated the syndicate's monthly earnings to be approximately ₹450 crore.

Attempt to Evade via Forged/Fraudulent Documents

Following his failure to comply with an ED summons in September 2023, a non-bailable warrant was issued against Saurabh Chandrakar on September 4, 2023. Interpol also issued a 'Red Notice' against him. On March 22, 2025, the Chhattisgarh High Court dismissed his challenge against the warrant. Investigations revealed that while still holding an Indian passport, he had obtained a passport from Vanuatu and even claimed to have renounced his Indian citizenship. The action was taken under the extradition treaty between India and Oman, following a request by the Enforcement Directorate (ED). On October 8, an appellate court in Muscat ordered his extradition, rejecting his arguments regarding his citizenship after the Indian Embassy confirmed his Indian nationality. He had been apprehended at Muscat International Airport while in possession of allegedly forged travel documents. A CBI team brought him to India on November 1, 2026. The ED has expressed its gratitude to the Government of Oman for its cooperation.

2,000 crore seized; assets worth 3,500 crore attached

The ED has conducted searches at approximately 190 locations so far. About ₹2,000 crore has been seized or frozen, while assets worth approximately ₹3,500 crore have been attached. This includes foreign assets valued at around ₹1,800 crore, as well as 22 immovable properties in Dubai. The agency has filed six prosecution complaints against 116 accused individuals. Chandrakar is the 15th person to be arrested in this case.

The investigation also revealed that proceeds from the betting operations reached the US-based company, Ebix Inc. According to the ED, companies linked to Vikas Garg—who was arrested in July 2026—received approximately ₹940 crore, of which about ₹766 crore was invested in the acquisition of Ebix Inc. Assets worth approximately ₹941 crore have been attached in connection with this aspect of the case. It is also alleged that around ₹200 crore in cash was spent on Chandrakar’s wedding in Ras Al Khaimah in February 2023; three chartered flights were dispatched from Nagpur for the event.

The ED traced these expenditures through the event management company, hotels, and hawala (illegal money transfer) operators. Now, while in ED custody, Chandrakar will be questioned regarding statements from his associates, digital evidence, documents related to foreign companies, and the alleged money laundering network. The investigation into the matter is ongoing.