ED Attaches Assets Worth Rs. 219.66 Crore in “Fairplay” Illegal Betting Case
(Judicial Quest News Network)
The Directorate of Enforcement (ED), Mumbai Zonal Office, has provisionally attached movable and immovable assets valued at approximately Rs. 219.66 Crore on November 22, 2024, in connection with the ongoing investigation into the illegal broadcasting of cricket and IPL matches, as well as various online betting activities linked to “Fairplay.” These assets, located across multiple cities including Ajmer (Rajasthan), Kutch (Gujarat), Daman, Thane, and Mumbai (Maharashtra), include Demat account holdings, land, flats, and a commercial warehouse.
The attachment was carried out under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. This action is part of the ED’s larger probe into M/s. Fairplay Sport LLC and its affiliates, which is accused of causing a massive loss to revenue—amounting to over Rs. 100 Crore—in illicit activities involving illegal broadcasting and online betting.
ED’s investigation was initiated following an FIR filed by the Nodal Cyber Police, Mumbai, based on a complaint from Viacom18 Media Pvt Limited. The complaint alleged violations under various sections of the Indian Penal Code (IPC), the Information Technology Act, 2000, and the Copyright Act, 1957. These illegal activities, which reportedly generated proceeds of crime, are said to have involved broadcasting cricket and IPL matches without authorization and conducting online betting operations.
The probe has revealed that Krish Laxmichand Shah, the key figure behind the Fairplay network, set up multiple companies across the globe to facilitate its operations. These include M/s. Play Ventures N.V. and M/s. Dutch Antilles Management N.V. in Curacao, M/s. Fairplay Sport LLC and M/s. Fairplay Management DMCC in Dubai, and M/s. Play Ventures Holding Limited in Malta. Shah primarily operated the Fairplay network from Dubai, with the help of his associates, including Siddhant Shankaran Iyer (alias Joe Paul), who was responsible for the financial aspects, and Chirag Shah and Chintan Shah, who handled the technological and software development functions.
Further investigations revealed that Krish L Shah and his associates had acquired various movable and immovable assets—using the proceeds from these illegal activities—either in their own names or through family members and relatives. These assets were located across India and abroad and were traced through a detailed financial investigation by ED.
The ED has previously conducted several search operations in this case, including those on June 12, 2024, August 27, 2024, September 27, 2024, and October 25, 2024. During these raids, the agency seized and froze numerous movable assets, along with incriminating documents and digital devices that provided key evidence in the case.
With the recent provisional attachment of assets worth Rs. 219.66 Crore, the total amount of attachments and seizures in this case has now reached approximately Rs. 331.16 Crore. The ED’s investigation is ongoing, with further actions expected as the agency continues to unravel the full scope of this illegal betting and broadcasting syndicate.
