Subscribe

Mahadev Betting

Neokred founders sent to judicial custody in betting-related GST evasion probe

Neokred founders sent to judicial custody in betting-related GST evasion probe

22 Apr 2026, 21:44 PM

Over the past three months, officials from 6-7 fintech firms, including Fino Payments Bank, have been arrested, sent to custody, had their offices searched, or bank accounts frozen in connection with illegal gaming tax evasion cases.

Hrithik Roshan-endorsed RUGR, Blume-backed IppoPay under DGGI scanner

Hrithik Roshan-endorsed RUGR, Blume-backed IppoPay under DGGI scanner

08 Apr 2026, 14:33 PM

RUGR and IppoPay are now part of the wider investigation into suspected GST violations tied to a high-value online betting case.

Peak XV-backed Probo under ED lens: Rs 284 crore assets seized amid online betting allegations

Peak XV-backed Probo under ED lens: Rs 284 crore assets seized amid online betting allegations

11 Jul 2025, 19:21 PM

The investigation revealed that the Probo platform defrauds its users by initially promoting a "deceptive image of a legitimate skill-based platform, only to ultimately exploit them through a betting mechanism..."

ED attaches fresh assets worth Rs 388 crore in Mahadev online betting case

ED attaches fresh assets worth Rs 388 crore in Mahadev online betting case

08 Dec 2024, 00:07 AM

The ED has seized assets valued to the tune of Rs 2295.61 crore in this case.

Who Reads Us

Fintech Highlights

  1. Go Digit Q4 net premium income flat, profit up 28%

  2. Novio nets Series A funding led by Cornerstone Ventures

  3. Sahi raises $33 million in Series B funding led by Accel Growth

  4. Seed funding sinks 65% as late-stage lifts fintech in Q1 2026

  5. MobiKwik gets RBI approval for NBFC license
  6. Read more news...

AI/Emerging Tech

  1. OpenAI breaks free from Microsoft cloud exclusivity

  2. Google to invest up to $40 billion in Anthropic

  3. LightFury Games bags $11 million from Blume, MS Dhoni, others

  4. OpenAI and Infosys partner to scale AI across enterprises

  5. Kabeer Biswas' startup M attracts funding from Peak XV, Blume, Cred
  6. Read more news...

IPO Tales

  1. Turtlemint IPO: Behind its 8x revenue jump, an internal deal does the heavy lifting

  2. Shiprocket IPO: A profitable core, costly emerging bets

  3. Fractal IPO: A bountiful harvest for PE investors, now comes the real AI test

  4. Boat IPO: A second shot amid management shake-up, flat revenues, eager to exit investor
  5. Read more news...

Money & Machines

  1. 'Guilty, until proven innocent'; The ARR illusion

  2. Rishi Gupta is out on bail. What next?; The cost of frivolous AI use

  3. Fintechs' Dubai Dream; Founders' AI Second Act

  4. A CEO arrested, hearing delayed; Sarvam's AI pitch
  5. Previous editions...

PE/VC Tales

  1. Micro VCs: Fueling India's startup pipeline or distorting it?

  2. Inside the fintech and financial services bets of Peak XV, Accel, Elevation

  3. Enterprise bets pay off as Arali Ventures eyes ‘larger’ third fund

  4. TDV Partners bullish on consumer over AI, plans bigger fund
  5. Read more news...

Editor's Pick

  1. Exclusive: Reserve Bank of India cracks down on misuse of education payments

  2. Inside Rebel Foods, Droom backer Lightbox's post-exodus reset

  3. The LAP rush and MSME mirage: Is fintech lending building its next risk? [Part-3]