Latest news with #VikasGarg
India Today
02-05-2025
- Business
- India Today
Exclusive: ED flags stock manipulation in Mahadev betting app case to Sebi, say sources
The Enforcement Directorate (ED) has disclosed details to the Securities and Exchange Board of India (Sebi) under the Prevention of Money Laundering Act (PMLA), urging the market regulator to investigate alleged stock manipulation linked to the Mahadev betting app case, sources familiar with the development told India Today ED's disclosure comes in the wake of extensive raids on April 16, targeting several small and medium-sized enterprises (SMEs) listed on Indian stock include Vikas Ecotech, Vikas Lifecare, Gensol, Balu Forge, IITL, and JT Industries -- companies suspected of being used to launder proceeds of crime and manipulate share prices. The agency's Raipur Zonal Office conducted coordinated search operations across multiple cities, including Delhi, Mumbai, Indore, Ahmedabad, Chandigarh, Chennai, and Sambalpur (Odisha), seizing Rs 3.29 crore in cash and freezing securities, bonds, and Demat accounts valued at over Rs 573 crore. Incriminating documents and digital evidence were also say the ED uncovered a pattern in which funds generated through illegal betting operations run by Mahadev Online Book -- a syndicate facilitating user enrolment on illegal betting platforms -- were funnelled into the Indian stock illicit funds were routed via benami bank accounts and then introduced as investments from foreign portfolio investors (FPIs) based in jurisdictions such as Mauritius and Dubai, the probe agency investments were allegedly used to artificially inflate the stock prices of certain SME companies, misleading retail investors and boosting company ED has also found evidence suggesting that promoters of companies like Vikas Ecotech, Vikas Lifecare, IITL, JTL Industries, and others colluded with the accused to channel tainted funds into their firms through preferential share issues, share warrant schemes, and promoter-share among those under scrutiny is Vikas Garg, promoter of Vikas Ecotech and Vikas Lifecare, who has been summoned by ED officials in Raipur. Documents recovered indicate past attempts by his companies to acquire an NBFC, a deal that was reportedly blocked by the Reserve Bank of India due to regulatory far, the ED has carried out over 170 raids in connection with the Mahadev Betting App investigation, leading to the seizure or attachment of assets worth Rs 3,002.47 crore.13 people have been arrested and 74 entities named as accused in five prosecution complaints filed in the Watch
Fashion Value Chain
29-04-2025
- Business
- Fashion Value Chain
Dwarka Expressway Emerges as Real Estate Hotspot with 32% Price Surge Amid Soaring Demand for Luxury Living
Gurugram's Dwarka Expressway has swiftly transitioned from a development corridor to one of the most sought-after residential destinations in the National Capital Region (NCR). Property prices along the expressway have surged by as much as 40%, rising from Rs. 12,500 per sq. ft. at the launch of key projects to over Rs. 17,500 per sq. ft. today. Dwarka Expressway Representation image This sharp rise reflects a broader trend seen across Delhi-NCR, which currently leads India's booming real estate market. According to a recent report by CREDAI, Colliers, and Liases Foras, Delhi-NCR recorded the highest annual housing price growth among the top eight cities, with a 31% year-on-year increase in Q4 2024. This far outpaced the national average of 10%, followed by Bengaluru at 23%. The surge in Dwarka Expressway's real estate value is underpinned by major infrastructural progress, strategic location advantages, and a growing demand for premium lifestyle housing among both Indian and NRI buyers. A key driver of the region's transformation is its enhanced connectivity. The expressway serves as a vital link connecting Delhi, the Indira Gandhi International Airport, NH-8, and Gurugram's commercial districts. As the expressway nears completion and with metro connectivity on the horizon, the area is poised for sustained growth in high-end real estate development. Additionally, buyer preferences have evolved significantly. Modern homebuyers are not just looking for a house-they are investing in a lifestyle. Spacious homes, cutting-edge amenities, and community-driven living are now priorities, pushing developers to deliver projects that go beyond traditional offerings. Prominent developers such as Ganga Realty, Signature Global, DLF, M3M and Trehan Group are leading the charge, redefining luxury living along the corridor. Ganga Realty's flagship project, Nandaka, has emerged as a standout with its eco-conscious design, lush green spaces, and top-tier features tailored to urban lifestyles. Mr. Vikas Garg, Joint Managing Director, Ganga Realty said, 'The transformation of Dwarka Expressway into a premium real estate destination is a reflection of both visionary infrastructure planning and rising consumer aspirations. At Ganga Realty, we are focused on delivering projects like Nandaka that embody sustainable luxury, combining modern living with environmental consciousness. This corridor is not just witnessing growth-it's shaping the future of NCR's residential landscape.' Mr. Neeraj K Mishra, Executive Director of Ganga Realty, stated, 'Dwarka Expressway has transitioned from a growth corridor to a goldmine of opportunity. With its strategic location, expanding infrastructure, and surge in luxury housing demand, it represents the future of urban living. At Ganga Realty, we are committed to creating spaces that reflect modern aspirations while remaining rooted in sustainable living. Nandaka is a testament to that vision.' Mr. Saransh Trehan, Managing Director, Trehan Group, said, 'Dwarka Expressway's emergence as a luxury hotspot is driven by a potent mix of connectivity, planned urban development, and discerning homebuyers who seek value beyond square footage. The areas evolution underscores a shift toward integrated, experience-driven housing-something we at Trehan Group have always prioritized. This is a pivotal moment for real estate in the region.' Other luxury developments, such as Signature Global's high-rise projects with sky lounges and premium retail zones, and Krisumi's architecturally refined, community-centric townships, are further enhancing the region's appeal.
