After allegations related to betting app Mahadev reached Dabur’s owners, the family contended it’s an attempt to thwart their bid for Religare. Although it’s a season of political intrigue, with charges flying around, the law must eventually prevail for the sake of capital markets.
As the Dabur family, now being spearheaded by the fifth generation, spreads its bets beyond its traditional FMCG and Ayurvedic business, it has run into trouble with the law. Recently, an FIR by Mumbai police into the Mahadev betting app has named Dabur chairman Mohit Burman and director Gaurav Burman. However, both have denied any links to the case.
Mahadev betting app scam: The company released a statement later, refuting all allegations, and said that they have no information about the FIR apart from what was being said in the media.