New Delhi, November 26
Directorate of Enforcement (ED) has provisionally attached movable assets in the form of demat account holdings and immovable assets in the forms of lands, flats and commercial warehouse located at Ajmer (Rajasthan), Kutch (Gujarat), Daman, Thane & Mumbai (Maharashtra) worth Rs. 219.66 crores under Prevention of Money Laundering Act (PMLA), 2002 as part of the ongoing probe in the case of “Fairplay” which was involved in illegal broadcasting of IPL matches and various online betting activities.
ED initiated investigation on the basis of FIR registered by Nodal Cyber Police, Mumbai against M/s. Fairplay Sport LLC and others on the complaint of M/s. Viacom18 Media Pvt Limited under various sections of IPC, 1860, Information Technology Act, 2000 and Copyright Act, 1957 for causing loss of revenue of more than Rs.100 Crore (Proceeds of Crime).
ED investigation revealed that Krish Laxmichand Shah (the keyperson behind the Fairplay) has registered various companies such as M/s. Play Ventures N.V & M/s. Dutch Antilles Management N.V at Curacao, M/s. Fair Play Sport LLC & M/s. Fairplay Management DMCC at Dubai and M/s. Play Ventures Holding Limited at Malta for the operations of “Fairplay”.
The investigation revealed that Fairplay is primarily being operated by Krish L Shah from Dubai with the help of his associates such as Siddhant Shankaran Iyer (alias Joe Paul) looking after financial aspects of Fairplay, Chirag Shah & Chintan Shah looking after technological and software development aspects of Fairplay. Krish L Shah and his associates have acquired various movable and immovable assets from proceeds of crime either in their names or in the name of their relatives/family members.
Earlier, ED has conducted search operations and seized frozen various movable assets along with various other incriminating documents & digital devices. Total attachment & seizure in this case till date amounts to Rs. 331.16 crores.
