EaseMyTrip Founder Denies Allegations in High-Profile Betting Case
EaseMyTrip has denied allegations against its founder, Nishant Pitti, in the Mahadev app betting case. The company claims the accusations are baseless, asserting Pitti's non-involvement in illegal activities. The Enforcement Directorate's investigation included multi-state raids. Despite market impacts, EaseMyTrip clarifies shareholder transactions were above board.
- Country:
- India
EaseMyTrip, a leading travel booking platform, has rejected allegations against its founder and chairman, Nishant Pitti, in connection with the Mahadev app betting scandal. The firm stated the accusations lack factual merit and are misleading, reaffirming Pitti's non-involvement in any illegal betting activities.
Recent reports suggested Pitti was implicated in manipulating stock prices using funds from the Mahadev betting operation. However, EaseMyTrip clarified that the allegations are unsubstantiated. The statement followed extensive raids by the Enforcement Directorate across multiple states, targeting locations linked to the case.
EaseMyTrip further addressed shareholder concerns, confirming that entities purchasing shares in 2021 did so legitimately, with dividends paid accordingly. Despite the scandal impacting share prices, dropping 3.99% to Rs 11.07 on BSE, the company remains firm in its defense of Pitti's integrity.
(With inputs from agencies.)
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