Tis Hazari Court Grants ED 24-Hour Remand for EBIX Chair in Money Laundering Probe

The Tis Hazari Court has approved a 24-hour transit remand for EBIX chairman Vikas Garg, allowing the Enforcement Directorate (ED) to bring him before a PMLA court in Raipur. Garg is implicated in a money laundering case tied to an online betting app, with properties worth Rs 940 crore attached.

The Tis Hazari Court on Tuesday authorized a 24-hour transit remand for Vikas Garg, the EBIX chairman, to the Enforcement Directorate (ED). Garg is set to be presented before a special Prevention of Money Laundering Act (PMLA) court in Raipur, Chhattisgarh, subsequent to his arrest concerning the alleged Mahadev online betting app money laundering case.

Presiding over the matter, Additional Sessions Judge Vijay Shankar granted the 24-hour transit period to aid in Garg's transfer from Delhi to Raipur. The ED initially requested 48 hours, emphasizing the necessity of Garg's custodial interrogation to uncover the financial trail tied to the case. Prosecutor Simon Benjamin highlighted that properties worth Rs 940 crore linked to Garg have been attached by the agency. The ED has also charged 74 individuals in connection to the case, in which they claim Garg is a significant figure.

Although Garg had not been named in any of the initial FIRs, the ED insists on his interrogation due to his central role in the illegal operations of the app. However, his defense team, led by Senior Advocate Madhav Khurana, challenged the necessity for custodial interrogation, arguing that Garg has been cooperative, participating in the investigation multiple times. They proposed a one-day interim bail, promising Garg's appearance by mid-July.