ED seizes Rs 34 crore assets in illegal stock trading case

New Delhi, Sep 9 The ED has provisionally attached movable and immovable properties valued at Rs 34.26 crore in the illegal online betting and Dabba Trading case linked to Indore.

Dabba trading refers to illegal stock trading that happens outside official stock exchanges like the National Stock Exchange or the Bombay Stock Exchange.

The Directorate of Enforcement (ED), Headquarters Investigation Unit, Delhi, attached assets belonging to Vishal Agnihotri, Tarun Shrivastava, Hitesh Agrawal, Dharmesh Rajnikant Trivedi, Srinivasan Ramasamy, Karan Solanki, Dhaval Devraj Jain and their family members under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, an official of the fedral agency said in a statement on Tuesday.

The latest attached assets are in addition to the Proceeds of Crime (PoC) worth Rs 24.13 crore in the form of cash, luxury watches, and gold/diamond jewellery seized in the case by the ED earlier.

The ED initiated an investigation on the basis of an FIR registered at Lasudia Police Station, Indore (Madhya Pradesh) under various sections of the Bharatiya Nyaya Sanhita, 2023.

The federal agency's investigation revealed that the above persons have been operating multiple entities and platforms such as V Money/VM Trading (M/s Standard Trades Limited), 11Starss, Lotusbook247, eight Stock Heights, Goldmine, Vertex, Gamebetleague, iBull Capital Ltd, Playbook, TargetFX, World777 and others, involved in illegal dabba trading and online betting operations.

Funds collected from investors and participants were routed through mule bank accounts, hawala channels, and cryptocurrency transactions.

Search operations conducted in December 2024, June and July 2025 across Indore, Bhopal, Mumbai, Chennai, and Ahmedabad led to the seizure of voluminous incriminating records, digital devices, cash, silver, gold, and cryptocurrency, the ED said.

Statements recorded under Section 50 of PMLA established the flow of funds and their utilisation in acquiring assets in the names of promoters, family members, and associated entities, it said.

Further, PoC worth Rs 24.13 crore in the form of cash, luxury watches, gold/ diamond jewellery, bank accounts and demat account holdings has already been seized/ frozen in this case. Therefore, the total PoC attached/seized in the present case amounts to Rs 58.39 crore.

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