The statement issued by Chandrakar claims that contrary to sensationalized reports, he asserts that the entire wedding ceremony, costing around AED 10 million, was funded by his internal accruals and savings. He mentioned that meticulous, well-documented records substantiating the sources of his income are available. He questions the feasibility of a payment of INR 200 crore in cash and emphasises the lack of practicality of such claims.

The statement reads, "He specifically indicates that all financial aspects of the event were overseen by professional event managers, and no cash transactions were involved at any stage of the planning or execution; to insinuate otherwise is purely speculative and unfounded. Documents and financial records are available to substantiate these facts, providing clear evidence that dispels any notions of impropriety."

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Celebs were called through legal channels

Regarding the celebrities attending his wedding, Chandrakar mentioned, "He firmly believes that the mention of celebrities at the event was grossly exaggerated. He indicates that all those who attended the wedding were engaged by the event management company, which facilitated their attendance. Mr Chandrakar is also keen to emphasise that all artists were hired by the company exclusively to attend and perform at the event. There were no direct financial transactions between Mr Chandrakar and these celebrities, as all payments were processed in complete transparency through the event management company, via legal banking channels."

No links with Mahadev App

The statement further clarifies that Chandrakar has no association with the Mahadev App or its operations. Accusations depicting him as the "Founder/Promoter/Director" of the Mahadev App are unequivocally false. Additionally, claims about his involvement in 60 illicit offshore platforms are baseless and entirely unsubstantiated.

Chandrakar vehemently denies any suspicious connections with individuals or organizations involved in unlawful activities. He expresses astonishment at such allegations. The statement emphasises that there are no operations in Pakistan, Sri Lanka, or Nepal associated with Mr Chandrakar. Such claims are entirely false and defamatory, lacking any shred of truth. Mr Chandrakar has never travelled to these countries, and any claims of his alleged participation in illicit activities in these regions are baseless and slanderous.

ED raids Chandrakar’s close associates

The Enforcement Directorate (ED) conducted raids at various locations in Bhilai related to associates of Chandrakar and Uppal over two days. Among those targeted was Deepak Savlani, reportedly a partner in Saurabh Chandrakar's 'Juice Factory.' Savlani is believed to have been involved with Chandrakar's illicit betting network, collaborating with him during the initial setup and operation of the betting business for approximately a year. ED sources suggest that Savlani changed his name to Jaideep for discreet activities, including securing a passport under the altered identity to travel to Dubai, ostensibly to evade law enforcement scrutiny. In addition to his role as a Bhilai Nagar Nigam contractor, Savlani is known for leading a lavish lifestyle.

In conjunction with the investigation, the ED team also searched premises related to juice factory outlets and other business figures, with the operation currently ongoing. Furthermore, the ED team visited the close relatives of Ravi Uppal, including resident Prerna Uppal, at their residence, which reportedly remained shut for the past year, according to information gathered from neighbours.

ED claims statement false

An ED officer said that Chandrakar's statement is entirely false. "There is concrete evidence suggesting he operated the app from abroad, with his associates managing operations in India. Further evidence highlights the use of hawala channels for money laundering, including payments to celebrities for promoting illegal betting apps.” The officer urged Chandrakar to return to India and assist with the ongoing investigation if he is innocent.