ED searches: EaseMyTrip denies association with Mahadev betting app, says no seizure made

The Enforcement Directorate on Wednesday searched the premises of online travel booking portal EaseMyTrip's co-founder Nishant Pitti as part of fresh multi-state raids in the Mahadev online betting app linked money laundering case, officials said.

Bengaluru: EaseMyTrip on Thursday denied any association with Mahadev betting app or any other betting platform, following the Enforcement Directorate (ED) raids on the travel agency’s founder Nishant Pitti's premises in Delhi on Wednesday.

“As per information available in the public domain, the ED conducted searches at over 50 locations of various persons/corporates. Amongst them one was EaseMyTrip premises,” said the firm in a regulatory filing.

This search was done under the Prevention of Money Laundering Act, 2002, the company stated.

“No seizure was made from the premises,” added EaseMyTrip.

The ED searched over 50 locations, including in Delhi, Mumbai, Chandigarh, Ahmedabad, Indore, Jaipur, Chennai and Sambalpur. This is part of fresh raids in the ongoing case investigating the high-profile scandal linked to the Mahadev betting app, as per reports.

The probe began with a First Information Report (FIR) that claimed large-scale money laundering, illegal gambling, and cyber fraud on the app.

In March, the Central Bureau of Investigation (CBI) searched the residence of former Chhattisgarh Chief Minister Bhupesh Baghel in connection with this case.

The shares of Easy Trip Planners, parent company of EaseMyTrip rose to close at Rs 12.30, after opening at Rs 12, rising by 0.9% from its previous close after the clarification was issued.

In the December 2024 quarter, the firm saw its net profit decline to Rs 33.6 crore, from Rs 45.7 crore in the same period last year. Its revenue fell to Rs 150.3 crore from Rs 160.7 crore year-on-year in the October-December quarter.