Why ED & CBI Not Yet Able To Arrest Alleged Hawala Operator Hari Shankar Tibrewal
In the shadowy underbelly of India’s booming digital economy, few scandals have cast as long a shadow as the Mahadev betting app scam. This multi-crore money laundering racket, estimated to have siphoned off over ₹6,000 crore (with some investigations pegging it closer to ₹40,000 crore), has ensnared politicians, Bollywood celebrities, and shadowy hawala operators. At the heart of this labyrinthine web sits Hari Shankar Tibrewal, the elusive Dubai-based alleged hawala operator (Kindly refer to the ED press release on the below link https://enforcementdirectorate.gov.in/sites/default/files/latestnews/Press%20Release%20-%20Mahadev%20Online%20Book%20-1.3.2024.pdf)
whose role in funneling illicit funds has made him a prime target for the Enforcement Directorate (ED) and Central Bureau of Investigation (CBI). Yet, as of November 14, 2025, despite asset freezes worth thousands of crores and relentless raids, Tibrewal remains at large. Why? This in-depth analysis delves into the man, the scam, the timeline, the fugitives, Tibrewal’s pivotal role, and the frustrating roadblocks stalling his arrest. For anyone tracking the Mahadev betting app saga or the shadowy world of hawala operations, this is the definitive breakdown.
Who Is Hari Shankar Tibrewal: The Enigmatic Alleged Hawala Operator Behind the Mahadev Betting Curtain
Hari Shankar Tibrewal is not your typical white-collar criminal; he’s a ghost in the machine of global finance, a alleged hawala operator (Kindly refer to the ED press release on the below link https://enforcementdirectorate.gov.in/sites/default/files/latestnews/Press%20Release%20-%20Mahadev%20Online%20Book%20-1.3.2024.pdf) whose name evokes whispers in the corridors of Mumbai’s stock exchanges and Raipur’s investigation offices. Born and raised in Kolkata, West Bengal, Tibrewal emerged from humble beginnings in the early 2000s as a small-time trader in commodities and textiles. By the mid-2010s, however, he had pivoted to the lucrative, albeit illegal, world of hawala— the informal value transfer system that bypasses traditional banking to move billions across borders undetected.
Tibrewal’s ascent was meteoric. Operating primarily from Dubai, where lax regulations and a thriving expatriate community provide cover, he built a network spanning India, the UAE, Mauritius, and beyond. His modus operandi? Layering illicit funds through shell companies, foreign portfolio investments (FPIs), and foreign direct investments (FDIs) into legitimate Indian businesses. Public records from the ED reveal that Tibrewal controlled entities like Zenith Multitrade DMCC in Dubai and Tano Investment Opportunities Fund in Mauritius, which funneled betting proceeds into Indian stocks. These weren’t random investments; they were pump-and-dump schemes designed to inflate share prices before cashing out, leaving retail investors holding the bag.
What sets Tibrewal apart in the Mahadev betting ecosystem is his sophistication. Unlike the app’s flamboyant promoters who flaunted wealth on social media, Tibrewal operated in the shadows. He wasn’t just a middleman; he was the architect of the laundering pipeline. ED probes have uncovered his ownership of illegal betting platforms like SkyExchange, a sister site to Mahadev, which raked in crores daily from desperate punters betting on everything from cricket matches to card games like Teen Patti. His Dubai base allowed him to exploit time zones, routing funds through UAE banks before dispersing them via hawala couriers—often disguised as legitimate remittances.
Tibrewal’s personal life remains shrouded. At around 45 years old, he’s described by associates as reclusive, with no public social media presence and a penchant for luxury villas in Dubai’s Jumeirah district. Yet, his fingerprints are everywhere in corporate India. In March 2024, The Morning Context exposed his “close links” with high-profile startups like BluSmart and Gensol Engineering, where tainted funds propped up valuations. By April 2025, ED raids had frozen his stakes in Gensol, Balu Forge Industries, and others, totaling over ₹1,100 crore. Tibrewal’s story is a cautionary tale of how hawala operators like him thrive in the gaps between national jurisdictions, turning illegal bets into legitimate fortunes.
But who exactly is the man the ED calls a “key player” in the Mahadev betting app scam? Insiders paint him as a master networker, with ties to Chhattisgarh’s political elite and Bollywood’s underbelly. His hawala empire allegedly serviced not just Mahadev but a constellation of betting apps, moving an estimated ₹5,000 crore annually. As investigations deepen, questions swirl: Is Tibrewal a lone wolf, or the tip of a larger syndicate? One thing is clear—his evasion tactics have prolonged the agony for Indian authorities.
What Was the Mahadev Betting App Scam: A Deep Dive into India’s Largest Online Gambling Racket
The Mahadev betting app scam isn’t just a financial fraud; it’s a seismic indictment of regulatory blind spots in India’s digital gambling landscape. Launched in 2018, the app masqueraded as a harmless gaming platform but quickly morphed into a behemoth of illegal betting, luring millions with promises of quick riches. At its peak, Mahadev processed ₹450 crore in daily wagers, dwarfing legitimate online sportsbooks and rivaling underground lotteries.
At the core, the scam exploited India’s patchwork gambling laws. While states like Goa and Sikkim permit licensed casinos, online betting remains a gray area under the Public Gambling Act of 1867—a relic ill-equipped for the internet age. Mahadev filled this void, offering bets on cricket (think IPL matches), politics, and even Bollywood box-office predictions. Users deposited funds via UPI, bank transfers, or crypto, only to see their money vanish into a vortex of rigged odds and addictive algorithms designed to maximize losses.
The financial mechanics were ingenious—and insidious. Promoters Saurabh Chandrakar and Ravi Uppal, childhood friends from Chhattisgarh’s Bhilai, started small, coding the app in a modest Raipur flat. By 2020, relocated to Dubai’s tax havens, they scaled up using a panel of 5,000 “agents” across India. These foot soldiers recruited punters via WhatsApp groups, promising 5-10% commissions on referrals. Winnings? Rarely paid out fully; instead, users were encouraged to “re-bet” in a classic Ponzi-like trap.
Money laundering was the scam’s dark engine. Proceeds, estimated at ₹6,000 crore over five years, were siphoned through hawala networks (enter Tibrewal), shell firms in Mauritius and Cyprus, and investments in Indian real estate, stocks, and even political donations. ED filings detail how ₹200 crore was funneled to Bollywood stars like Sahil Khan for endorsements, glamorizing the app as a “lifestyle choice.” Political angles added fuel: Allegations swirled of ₹508 crore in bribes to Chhattisgarh officials, including former Chief Minister Bhupesh Baghel, to shield operations.
The scam’s societal toll is staggering. It preyed on vulnerable youth in Tier-2 cities, fueling addiction, debt, and suicides. In Chhattisgarh alone, over 200 families reported ruin. Economically, it distorted markets: Tainted funds inflated small-cap stocks, eroding investor trust. By 2025, the RBI and SEBI had tightened UPI norms and FPI scrutiny, but the damage lingers.
Mahadev wasn’t isolated; it was part of a ₹1 lakh crore annual illegal betting industry in India, per NITI Aayog estimates. Competitors like Parimatch and 1xBet faced similar probes, but Mahadev’s scale—serving 10 million users—made it the poster child. As ED’s Additional Director H.S. Wetkar noted in a 2024 presser, “This wasn’t gambling; it was organized crime.” The scam exposed how tech-enabled vice outpaces law enforcement, with alleged hawala operators like Hari Shankar Tibrewal (Kindly refer to the ED press release on the below link https://enforcementdirectorate.gov.in/sites/default/files/latestnews/Press%20Release%20-%20Mahadev%20Online%20Book%20-1.3.2024.pdf) as the vital cogs.
The Entire Timeline of the Mahadev Betting App Scam: From Humble Beginnings to National Reckoning
Unraveling the Mahadev betting app scam requires a chronological lens, revealing a slow burn that erupted into a full-blown crisis. Here’s the exhaustive timeline, pieced from ED chargesheets, CBI FIRs, and court records up to November 2025.
2018: Genesis in Bhilai Saurabh Chandrakar, a 22-year-old juice vendor, and Ravi Uppal, his schoolmate, ideate the app during IPL season. Using free coding tools, they launch Mahadev Online Book as a Telegram-based betting ring. Initial bets: ₹10 lakhs daily on local cricket. Hawala ties form early, with Tibrewal handling cross-border flows from Kolkata.
2019-2020: Dubai Pivot and Explosive Growth Post-demonetization cash crunch, the duo flees to Dubai with ₹50 crore seed money. Mahadev goes mobile, integrating UPI for seamless deposits. User base swells to 1 lakh; daily collections hit ₹50 crore. Tibrewal’s SkyExchange launches as a feeder app, routing 20% of funds. Political protection allegedly begins: Chhattisgarh Congress leaders receive “facilitation fees.”
2021: Peak Pandemonium COVID lockdowns supercharge online betting. Mahadev hits 5 million users, processing ₹200 crore daily. Lavish weddings ensue—Chandrakar’s 2022 nuptials cost ₹50 crore, featuring MS Dhoni as host. ED flags suspicious remittances; hawala volumes surge to ₹1,000 crore monthly via Tibrewal’s network.
October 2023: The Raid That Shook Raipur ED’s first major crackdown: 14 states, 44 locations raided. ₹5.69 crore cash, 21 kg gold seized. Chandrakar and Uppal declared fugitives; Interpol Red Corner Notices issued. Tibrewal’s name surfaces in hawala ledgers.
November 2023: International Heat Chandrakar arrested in Dubai on drug charges (later linked to Mahadev). Released on bail, he vanishes. ED attaches ₹417 crore assets, including Dubai properties. CBI joins, probing IPC sections 420 (cheating) and 120B (conspiracy).
2024: Asset Avalanche January: ED freezes ₹581 crore shares linked to Tibrewal in Balu Forge, Gensol. March: ₹1,100 crore stocks attached after pump-and-dump revelations. June: Sahil Khan grilled; Bollywood links exposed. December: Fresh ₹388 crore attachments, targeting Tibrewal’s FPI routes. Four chargesheets filed; 11 arrests, including agents like Girish Talreja.
April 2025: Political Bombshell CBI FIR names Bhupesh Baghel as accused, alleging ₹100 crore protection money. Raids on EaseMyTrip CEO Nishant Pitti’s offices uncover Mahadev ad spends. Gensol Engineering promoters summoned over Tibrewal’s stakes. Vikas Garg, a key panel operator, raided in Delhi.
November 2025: Uppal’s Escape and SC Intervention Ravi Uppal flees UAE surveillance, declared untraceable. Supreme Court slams ED for lapses, orders tracing and asset freezes. Tibrewal’s Dubai hideout raided remotely; no arrest. Total attachments: ₹6,500 crore.
This timeline underscores the scam’s evolution from a local hustle to a transnational threat, with alleged hawala operator Hari Shankar Tibrewal (Kindly refer to the ED press release on the below link https://enforcementdirectorate.gov.in/sites/default/files/latestnews/Press%20Release%20-%20Mahadev%20Online%20Book%20-1.3.2024.pdf) as the constant enabler.
Where Are All the Absconding Accused: Tracking the Mahadev Fugitives in 2025
The Mahadev betting app scam’s masterminds are a rogues’ gallery of absconders, scattered across global hideouts, mocking India’s extradition efforts. As of November 2025, over 20 key accused remain at large, their locations a mix of confirmed sightings and intelligence whispers.
Ravi Uppal: The Phantom Co-Founder Uppal, 35, the app’s tech brain, was under UAE surveillance until early November 2025. Sources confirm he fled via a private jet to an undisclosed Southeast Asian nation, possibly Thailand or Singapore, where betting syndicates thrive. Supreme Court directed ED on November 5 to “trace and secure” him, freezing ₹500 crore in assets. Believed funded by residual hawala cash.
Saurabh Chandrakar: Dubai’s Reluctant Hostage Arrested in October 2024 on Interpol notice, Chandrakar was bailed out but confined to Dubai. Recent X chatter suggests he’s under house arrest in Jumeirah, plotting comebacks via proxy apps. ED seeks re-arrest; UAE extradition treaty stalls progress.
Hari Shankar Tibrewal: The Hawala Kingpin in Exile Tibrewal’s Dubai fortress— a Burj Al Arab penthouse—remains his bastion. ED’s 2025 summons went unanswered; he’s allegedly using multiple passports. Links to Mauritius funds keep him liquid.
Other Key Fugitives:
- Dixit Patel (Financial Wizard): Holed up in Cyprus, managing shell firms. ED froze ₹200 crore in 2024.
- Arjun Singh Yadav: Surfaced in Madhya Pradesh’s Pachmarhi in May 2024, but escaped custody; last pinged in Goa casinos.
- Vikas Garg: Recent Delhi raids (November 2025) missed him; believed in Punjab, per X tips.
- Panel Chiefs like Shubham Soni: Scattered in Nepal and Bangladesh border towns, running mini-Mahadevs.
These locations highlight the scam’s global footprint, with Dubai as ground zero. Interpol’s 15 Red Notices notwithstanding, porous borders and corrupt facilitators keep them free.
What Was the Role of Hari Shankar Tibrewal in the Entire Mahadev Betting Scam
Hari Shankar Tibrewal wasn’t a peripheral player in the Mahadev betting app scam; he was the invisible artery pumping illicit blood through its veins. As the designated hawala operator, Tibrewal’s role spanned logistics, laundering, and expansion, making him indispensable to Chandrakar and Uppal.
Hawala Facilitation: The Core Pipeline From 2020 onward, 70% of Mahadev’s ₹450 crore daily intake flowed through Tibrewal’s network. Operating from Dubai, he coordinated “hundi” transfers—code for hawala—using couriers carrying encrypted ledgers. ED raids in March 2024 uncovered diaries detailing ₹2,000 crore routed to India, disguised as export remittances. His cut? A tidy 2-5% commission, netting ₹100-200 crore annually.
Betting Platform Ownership Tibrewal didn’t just move money; he generated it. He owned SkyExchange, a Mahadev clone that onboarded 2 million users by 2023. Integrated APIs allowed seamless fund pooling, with bets funneled back to Mahadev’s servers. This dual operation amplified the scam’s reach, evading single-point shutdowns.
Stock Market Manipulation: The Laundering Masterstroke Tibrewal’s genius lay in “legitimizing” proceeds. Using Dubai’s Zenith and Mauritius’s Tano Fund, he invested in 15+ Indian SMEs: Gensol Engineering (EV solar), Balu Forge (aerospace), and even BluSmart (ride-hailing). Funds bought stakes at depressed prices, hyped via paid promoters, then dumped for 300-500% gains. April 2025 ED probes revealed ₹1,100 crore in manipulated trades, crashing stocks like Gensol by 20% post-freeze.
Political and Celebrity Enablers Tibrewal allegedly disbursed ₹300 crore in “protection” to Chhattisgarh insiders, including Baghel’s aides, via hawala drops in Raipur. Bollywood tie-ups? He greenlit ₹50 crore for endorsements, roping in Khan and others. X posts from April 2025 highlight his “gaming app” facade crumbling under scrutiny.
In sum, Tibrewal transformed raw betting cash into diversified assets, sustaining the scam for years. Without his hawala expertise, Mahadev might have folded in 2021.
Why ED & CBI Are Still Not Able to Arrest Alleged Hawala Operator Hari Shankar Tibrewal
Despite a barrage of actions—raids, freezes, summons—the ED and CBI’s failure to cuff Hari Shankar Tibrewal as of November 2025 is a study in institutional frustrations. Here’s why the hawala operator slips through the net.
Geopolitical Hurdles: Dubai’s Ironclad Sanctuary Tibrewal’s Dubai base is a fortress. The India-UAE extradition treaty exists, but requires “dual criminality”—hawala isn’t explicitly illegal there. UAE’s Golden Visa shields him, and local banks stonewall MLAs. Chandrakar’s 2024 arrest succeeded via drug charges; Tibrewal’s “clean” profile delays Red Notices.
Legal Labyrinths and Procedural Delays ED issued summons in January 2025; Tibrewal’s lawyers cite “lack of evidence” in Delhi HC, stalling warrants. CBI’s FIR under PMLA needs court nod for overseas ops. SEBI’s parallel probes (e.g., Gensol) fragment efforts. As SC noted in Uppal’s case, “Kingpins play with courts.”
Resource and Intelligence Gaps ED’s Raipur Zonal Office is understaffed for global hunts. Hawala’s oral nature leaves scant trails; couriers flip under pressure, but Tibrewal’s inner circle is loyal. X intel from October 2025 flags his Mauritius pivots, but real-time tracking lags.
Political Interference Whispers Baghel’s implication raises eyebrows: Did Chhattisgarh’s old guard tip Tibrewal? BJP alleges “selective targeting”; Congress cries vendetta. This politicization slows inter-agency coordination.
Tibrewal’s Evasion Arsenal Multiple identities, crypto wallets, and proxy directors keep him agile. Post-2024 freezes, he’s diversified to Singapore REITs. Experts predict arrest only via UAE pressure, perhaps post-2026 elections.
The impasse underscores systemic flaws: Until India bolsters cyber-forensics and bilateral pacts, hawala operators like Tibrewal will haunt the Mahadev betting shadows.
Conclusion: Time for a Reckoning in the Mahadev Betting and Hawala Shadows
The Mahadev betting app scam, with Hari Shankar Tibrewal as its hawala heartbeat, isn’t history—it’s a live wire. As assets pile up and fugitives taunt from afar, the ED and CBI must transcend borders and bureaucracy. For India, reeling from ₹6,000 crore losses and shattered trusts, swift justice isn’t optional; it’s imperative. Will Tibrewal’s arrest be the domino that topples the syndicate? Only time—and bolder probes—will tell. Until then, the hunt for this hawala operator continues, a stark reminder of vice’s digital dominion.
Disclaimer: This Article of Inventiva is based on press release of ED on 1st March 2024 where Enforcement Directorate has itself called Hari Shankar Tibrewal as Hawala Operator.
Kindly refer to the ED press release on the below link
