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India Today
30-06-2025
- India Today
Surat Police busts Rs 943 crore dabba trading, online betting racket; 8 arrested
Surat Police busted a Dabba trading and online gaming racket worth Rs 943 crore. Eight accused have been arrested in connection with the scam, which operated under the guise of a real estate office named 'Sunrise Developers'.The investigation has so far identified over 250 people involved in the illegal online trading and betting network. The accused used illegally developed software to generate user IDs and passwords for on a tip-off, the police raided the office and uncovered two major illegal activities: unauthorised Dabba trading and betting on live sports and casino games via banned platforms. Police revealed that the operators attracted clients by offering tax-free profits and the option to use black money, promising zero losses. Rajdeep Singh Nakum, Deputy Commissioner of Police, confirmed that financial transactions totalling Rs 943 crore were traced through the trading and gaming applications. Additionally, transactions worth Rs 4.62 crore were found in various bank accused used unregistered software like 'Castillo 9' and 'Stock Grow' to conduct Dabba trading, an illegal form of stock trading without SEBI they ran betting operations on platforms such as ' ' 'PavanExch,' and 'English999,' focusing on football, cricket, tennis, and casino an attempt to destroy evidence, the accused used a paper-cutting machine found at the office to shred transaction records, particularly those involving black main masterminds behind the racket are Nandlal alias Nando Vitthalbhai Gevriya and his cousin Vishal alias Vicky Mansukhbhai is a repeat offender with a previous case related to online gaming and betting. Others arrested include Bhavesh Jinabhai Kihla, Jaideep Kanjibhai Pipaliya, and Navneet Chaturbhai Gevriya, who managed the financial Arvindbhai Hirpara and Bakul Maganbhai Tarsaria, who developed the software, and Sahil Mukeshbhai Suvagia, who made customer calls, have also been taken into had reportedly been active in such activities for over a decade and had been running this illegal operation under the 'Sunrise Developers' banner for the last 18 police seized items worth Rs 17.30 lakh from the office, including 19 mobile phones, four laptops, Rs 10.05 lakh in cash, 13 SIM cards, 31 bank passbooks, 87 chequebooks, two debit cards, a colour printer, and a paper-cutting confirmed that the accused evaded various taxes, including the Securities Transaction Tax (STT), causing significant losses to the government. The police are now pursuing the absconding accused, Javed alias JD and Parimal Kapadia.- Ends IN THIS STORY#Surat#Gujarat
Time of India
30-06-2025
- Business
- Time of India
900cr dabba trading, sports betting racket busted; 8 arrested
Surat: The special operations group (SOG) in Surat busted a dabba stock trading (off-exchange stock speculation) and sports betting racket, worth Rs 950 crore, and arrested eight people. Tired of too many ads? go ad free now Those arrested operated from the office of a real estate firm in Utran. They allegedly developed websites and applications through which speculators and bettors made illegal trades and bets. The authorities have charged ten persons under the Bharatiya Nyaya Sanhita, the Securities Contracts (Regulation) Act 1956, and the SEBI Act 1992. SOG police inspector Atul Sonara received intelligence that a large-scale dabba share trading and betting racket was being run from the real estate firm's office in Utran. SOG detectives raided the office of Sunrise Developers at Meridian Business Centre and apprehended eight individuals who were running a dabba trading and sports betting racket using computers. The accused had developed web platforms named 'Castilo 9' and 'Stock Grow' for dabba trading and promoted them on social media platforms such as Facebook and Instagram. These platforms enabled clients to carry out illegal trading and speculation on stocks and other securities. Additionally, the use of online betting platforms suc as PavanExch and English999 was discovered, where betting took place on cricket, football, tennis, and other sports. Police found transactions totalling Rs 950 crore across all these platforms. "The accused employed an in-house software developer to make customized platforms. Clients were identified across India, including in cities such as Mumbai, Ahmedabad, Rajkot and Surat. Tired of too many ads? go ad free now The authorities seized 19 mobile phones, four laptops, Rs 10 lakh in cash, 31 passbooks, 87 cheque books and 13 sim cards, among other items," an official said. Police seized a paper shredder, used by the accused to get rid of sensitive documents. "Many transactions were conducted through angadias, resulting in numerous paper documents that were shredded after their use was over," the official added. Those arrested are Nandlal Gevariya, Vishal Gevariya, Jaydeep Pipaliya, Bhavin Hirpara, Navneet Gevariya, Sahil Suvagiya, Bhavesh Kihla and Bakul Tarsariya. Two other accused persons, Javed and Parimal Kapadiya, have been charged and listed as wanted.
