The Enforcement Directorate (ED), Mumbai Zonal Office, has provisionally attached movable and immovable assets worth approximately ₹219.66 crore under the Prevention of Money Laundering Act (PMLA), 2002, on November 22, 2024. The attached assets include holdings in demat accounts and properties such as land, flats, and a commercial warehouse located in Ajmer (Rajasthan), Kutch (Gujarat), Daman, Thane, and Mumbai (Maharashtra).
These actions are part of an ongoing investigation into “Fairplay,” a case involving illegal broadcasting of cricket and IPL matches, as well as online betting activities.The ED initiated the probe based on an FIR filed by the Nodal Cyber Police, Mumbai, against M/s. Fairplay Sport LLC and others.
The complaint, made by M/s. Viacom18 Media Pvt. Limited, alleged violations under various sections of the Indian Penal Code (IPC), the Information Technology Act, 2000, and the Copyright Act, 1957. The estimated revenue loss due to these illegal activities exceeds ₹100 crore, identified as proceeds of crime.
Investigations revealed that Krish Laxmichand Shah, the key individual behind "Fairplay," had registered multiple companies, including M/s. Play Ventures N.V. and M/s. Dutch Antilles Management N.V. in Curaçao; M/s. Fairplay Sport LLC and M/s. Fairplay Management DMCC in Dubai; and M/s. Play Ventures Holding Limited in Malta, to operate "Fairplay."
Shah primarily operated the platform from Dubai, assisted by associates like Siddhant Shankaran Iyer (alias Joe Paul), who managed financial operations, and Chirag Shah and Chintan Shah, who handled technological and software development aspects. The investigation also uncovered that Shah and his associates used the proceeds of crime to acquire various assets, registering them in their own names or those of family members.
Previously, the ED conducted search operations in the case on June 12, August 27, September 27, and October 25, 2024. These operations resulted in the seizure and freezing of movable assets, incriminating documents, and digital devices. The total attachment and seizure in this case now amount to approximately ₹331.16 crore.
The investigation is ongoing, with further action anticipated.
