A mini storm appears to be brewing in the smallcap equities market after the Enforcement Director seized the assets of several entities for their alleged involvement in the Mahadev betting scam
Tibrewala and his entities hold stakes in more than 30 listed stocks. All of them traded at the lowest price limit of the day following the news of Chokhani s arrest.
According to the ED, Tibrewala has been laundering the proceeds from the betting operations by investing the money in shares of companies listed on the BSE and NSE.