Key points:
- EaseMyTrip states its Chairman Nishant Pitti has no links to the Mahadev betting case
- The company confirms routine share transactions and full legal compliance
EaseMyTrip has released an official statement responding to recent media reports linking its Founder and Chairman, Nishant Pitti, to the Mahadev app betting case.
This comes after Nishant Pitti is under investigation for his alleged involvement with Sky Exchange, an illegal betting platform connected to the Mahadev app scam. The Enforcement Directorate (ED) suspected EaseMyTrip made payments to shell companies tied to the betting operation and that stock prices were manipulated using illicit funds.
The company has denied all claims, describing them as baseless, inaccurate and lacking factual basis. It said Mr Pitti has no involvement, direct or indirect, with any illegal betting operations or entities connected to the Mahadev app.
EaseMyTrip stated that it maintains high standards of corporate governance and complies fully with all relevant laws and regulations. It also confirmed that it is cooperating with authorities to ensure a transparent review of the facts.
Good to know: The company said the allegations misrepresent the facts and undermine trust in its leadership
Addressing specific claims, the company explained that two entities independently purchased EaseMyTrip shares through the open market in May 2021. Dividends were paid to them in December 2021 in accordance with shareholder rights. No further transactions or links have been recorded.
EaseMyTrip official statement stated: “We categorically and unequivocally deny the allegations reported in connection with our Founder and Chairman, Mr Nishant Pitti, concerning the so-called Mahadev app betting case. These claims are entirely baseless, misleading and devoid of factual merit.
"Mr Pitti has had no involvement, direct or indirect, with any illegal betting operations or entities related to the Mahadev app.”