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ED Searches Vikas Garg's Premises Over Alleged Share Manipulation

1 report, 1 independent Updated Nov 12

AI-generated briefing. Brind wrote this from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.

What happened

Some supportReported by 1 outlet

The Enforcement Directorate in Mumbai conducted searches at the Delhi premises of Vikas Garg on November 12, 2025. Garg, who owns Ebix Cash, Vikas Ecotec, and Vikas Lifecare, is under investigation for alleged share price manipulation and money laundering. Officials state that Garg is an associate of the Mahadev Betting app mastermind Harishankar Tibrewal.

From businesstoday.in

Why it matters

Some supportBrind's analysis of the reports

The investigation alleges that Garg used proceeds from the Mahadev Betting app's operations to manipulate share prices on a large scale. This action relates directly to the regulatory standing and financial operations of his companies.

From businesstoday.in

Who's involved

Vikas GargIndustrialist and owner of Ebix Cash, Vikas Ecotec, and Vikas Lifecare, currently under investigation.

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The entities involved

Delhi
megacity and union territory of India
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Vikas Garg
researcher, psychiatry

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Mumbai
capital city in Maharashtra, India
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Coverage

Newest first; wire copies grouped

Nov 12businesstoday.in