ED chargesheets EaseMyTrip promoter Nishant Pitti in betting-app case
India’s Enforcement Directorate has filed a chargesheet against EaseMyTrip promoter Nishant Pitti in a Mahadev betting app case, according to a filing cited by The Hindu. The agency alleges that he participated in a pre-arranged deal to manipulate EaseMyTrip’s share price and market value.
The Enforcement Directorate has filed a chargesheet against EaseMyTrip promoter Nishant Pitti in a case linked to the Mahadev betting app, The Hindu reported. According to the chargesheet filed in a special court under the Prevention of Money Laundering Act, Pitti allegedly acted on behalf of the promoters of Easy Trip Planners Ltd. in a pre-arranged stock price manipulation agreement with Amardeep Sharma.
The agency alleges that the arrangement was intended to artificially raise the share price and market capitalisation of Easy Trip Planners Ltd. The supplied material does not provide details of the alleged transactions, the period in which they took place or the amount involved. The chargesheet represents the Enforcement Directorate’s allegations.
The available information does not include Pitti’s response, a statement from Easy Trip Planners, or any finding by the court on the claims. It also does not state whether the court has taken cognisance of the chargesheet, whether other people have been charged, or what specific evidence the agency has submitted beyond the allegations described in the filing. The case therefore concerns an alleged agreement to influence the company’s stock price and market capitalisation.
Further procedural details and responses from the accused or the company were not included in the supplied report summary.
This independently written report is based on information supplied by the named publisher. Vertrix News has not independently verified the source report.