Money Control
Money Control
ED attaches over Rs 5 crore assets in online betting, gambling linked money laundering case
The Enforcement Directorate on August 26 said it has attached assets worth more than Rs 5 crore as part of a money laundering investigation against individuals and companies accused of operating illegal online betting and gambling apps. The central agency's probe stems from a Bengaluru Police FIR that was initially registered by the Directorate of…
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Gaming stock falls up to 5% after withdrawing IPO as 28% GST on Casinos will be Implemented from October 01
A gaming company's share price plummeted 8 percent to reach an intraday low of ₹ 181.10 apiece on the National Stock Exchange (NSE) after an announcement in the 51st meeting of the GST Council on August 02, 2023, regarding Goods and Services Tax (GST) on online gaming, casinos and horse racing.
At 12:36 PM, Delta Corp's shares were trading at ₹…
Money Control
Tamil Nadu gambling law: Online rummy, poker firms block users from playing real money games
October 10, 2022 / 04:52 PM IST
Online rummy and poker platforms such as Adda52, RummyCircle, Junglee Rummy, and PokerBaazi have started blocking access to people in Tamil Nadu after the state governor
approved an ordinance
on October 10 to ban online gambling.
Puneet Singh, co-founder and COO of Baazi Games, which runs the online poker platform…
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MediaNama
Tamil Nadu passes ordinance to ban online gambling as SC hears case
The Tamil Nadu cabinet approved an ordinance banning online'gambling' games, which will soon be approved by Governor T.N. Ravi, a government press release said. It added that to advise the government on this matter, a committee headed by Justice K. Chandru had submitted its report, which was placed before the cabinet on the same day. This article…
Money Control
Gaming firms resume services after Karnataka lifts ban on online gambling
February 16, 2022 / 09:06 PM IST
Many online gaming firms have resumed services in Karnataka after the state's High Court, on February 14, struck down the provisions of the Karnataka Police Act that deals with online gambling as unconstitutional.
On October 5 last year, Karnataka government had notified the online gambling law with immediate…
MediaNama
Karnataka online gambling ban struck down on constitutional grounds
The
Karnataka Police (Amendment) Act 2021
which banned online gaming (with stakes) and betting in the state, has been struck down by the Karnataka High Court (HC) as unconstitutional, according to a
LiveLaw
report.
The verdict was pronounced by a division bench of Chief Justice Ritu Raj Awasthi and Justice Krishna S Dixit. The bench clarified that…
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Money Control
Karnataka HC strikes down state's online gambling law as unconstitutional
February 14, 2022 / 11:32 AM IST
The Karnataka High Court, on February 14, struck down the state's recent online gambling law as unconstitutional, providing a major relief to the skill-based gaming firms that had shut down operations in the state.
This judgement will likely pave the way for fantasy sports and gaming fifirms such as Dream11, Mobile…
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Karnataka HC Concludes Hearing, Reserves Judgement In Online Gambling Ban Case
December 22, 2021 / 08:43 PM IST
The Karnataka High Court has reserved its judgement after concluding the hearings from a series of petitioners that included industry associations, gaming companies and individuals who had challenged the constitutional validity of the state's new online gambling law that came into effect on October 5.
Skill gaming…
MediaNama
Karnataka online gambling ban: Dream11 moves court to quash FIR
Weeks after an FIR led to Dream11 stopping its services in Karnataka, the fantasy sports app's founders Bhavit Sheth and Harsh Jain have moved the Karnataka High Court seeking to quash the FIR. According to a
report
by The News Minute, the two founders filed a writ petition before the court on October 22.
The FIR prompting Dream11 to exit the state…
Money Control
No Arrests To Be Made Under New Gambling Law, Says Karnataka High Court
October 22, 2021 / 02:25 PM IST
The Karnataka High Court on October 22 told the Advocate General appearing on behalf of the state government not to make arrests under the new online gambling law that faces legal challenges from several gaming firms.
Appearing for All India Gaming Federation, a skill gaming industry body that has challenged the law,…
Money Control
Junglee Games Files Petition In Karnataka HC Against Gambling Ban
October 18, 2021 / 07:16 PM IST
Junglee Games, which operates Junglee Rummy, Junglee Teen Patti, and fantasy gaming platform Howzat, is the latest firm to approach the Karnataka High Court appealing against the state's online gambling law that came into effect on October 5.
Online betting giant Flutter Entertainment, which was created by the merger…
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Karnataka Gambling Ban: No Significant Impact On Delta Corp's Online Skill Gaming Business
October 13, 2021 / 05:07 PM IST
Ace investor Rakesh Jhunjhunwala-backed casino and hospitality firm Delta Corp doesn't expect Karnataka's recent gambling ban to have an impact on its online skill gaming operations.
Delta Corp currently operates an online poker site Adda52 and rummy platform Adda52Rummy through its subsidiary Gaussian Networks.…
ABP News Live
Karnataka: AIGF, Gaming Companies Move High Court Challenging Online Gambling Law
Chennai:
The All India Gaming Federation (AIGF), a skill gaming industry body, along with four other real-money gaming companies have moved the Karnataka High Court challenging the state government's online gambling law that came into effect on October 5.
According to a report in Moneycontrol, the firms, Mobile Premier League (MPL), Games24X7, A23…
Money Control
MPL, Games24x7, AIGF Approach Karnataka High Court Against Gambling Ban
Skill gaming industry body All India Gaming Federation along with real-money gaming firms Mobile Premier League (MPL), Games24x7, A23(Ace2Three), and Gameskraft have approached the Karnataka High Court appealing against the state's online gambling law that came into effect on October 5.
These firms have filed writ petitions in the Karnataka High…
Money Control
Karnataka Gambling Law: MPL & Other Gaming Startups Block Users From Playing Real Money Games
October 06, 2021 / 08:36 AM IST
Real-money gaming startups have started blocking access to residents in Karnataka after the state government notified the online gambling law with immediate effect on October 5.
Gaming platform Mobile Premier League (MPL), which hosts online tournaments across more than 70 mobile games, has updated its terms and…
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Indian Startups Seek Clarity Over Karnataka's Online Gambling Bill
September 22, 2021 / 06:47 PM IST
Indian tech startups and industry associations have expressed concerns and sought clarity over the Karnataka government's bill to ban online gambling.
Rameesh Kailasam, CEO of IndiaTech.org, an industry body that represents founders of Indian startups and investors, told Moneycontrol that they have recommended to…
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