Negative impactEconomy
Who is Saurabh Chandrakar? From working at a juice shop to becoming the alleged mastermind of Mahadev betting app
Mint 1 hr ago·3 Nov 2026, 10:38 am
Saurabh Chandrakar, a key figure in the Mahadev betting app scandal, has returned to India following his extradition from Oman. The Delhi-based Rouse Avenue Court has granted the Central Bureau of Investigation a transit remand to move him to Raipur, where criminal proceedings are pending. This development marks a significant step in the investigation into the alleged online betting platform.
The Mahadev app case has drawn attention for its alleged scale and operations. Investors are watching closely to see how authorities proceed with the investigation and what further details may emerge regarding the app's operations and those involved. The outcome of these proceedings could have broader implications for the online gaming and betting sectors in India.
What to watch next is the progress of the legal proceedings against Chandrakar and any additional arrests or charges that may follow. The investigation's findings could influence regulatory scrutiny of similar platforms operating in the market.
Excerpt from Mint
Saurabh Chandrakar, the principal promoter of the Mahadev betting app, has been extradited from Oman to India, marking a major development in the investigation into one of the country's biggest alleged illegal online betting syndicates. The Enforcement Directorate (ED) has named Chandrakar as the prime accused in its…Read the original at Mint
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- Category: Economy.
- AI reads the tone as negative (potentially bearish) for the stock.
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