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ED zeroes in on Dubai-based operator-cum-FPI in MOB case; freezes Rs 581 cr of shares

The ED release said that Hari Shankar Tibrewal owned and operated one of the illegal betting websites viz. skyexchange, and was involved in large-scale hawala movement of the betting funds.

March 01, 2024 / 16:11 IST
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The ED said that it has identified Tibrewal as one of the major players involved with the promoters of Mahadev Online Book, which is being probed for money laundering.

The Enforcement Directorate (ED) has frozen shares worth Rs 581 crore held by associates of entities beneficially owned by Hari Shankar Tibrewal, a Dubai-based hawala operator with links to the promoters of illegal online betting websiteMahadev Online Book.

Hawala is the colloquial term for illegal transfer of money.

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The ED said that it has identified Tibrewal as one of the major players involved with the promoters of Mahadev Online Book, which is being probed for money laundering.

The ED release said that Tibrewal owned and operated one of the illegal betting websites viz. skyexchange, and was involved in large-scale hawala movement of the betting funds.