Chandrakar and Uppal would provide information to the panel owners. These panel owners, in turn, would create user profiles for players (or punters), who would be persuaded to deposit funds into specifically designated bank accounts (the majority of which are unscrupulous or benami accounts held in the names of fictitious individuals). It is alleged by the central agency that Chandrakar and Uppal, from Dubai, ran the app’s operations by creating profiles of “panel owners' who oversaw four or five different platforms for a commission. These individuals have been considered to be top match-fixers in India, who operate as partners, run several betting sites, and are associated with another accused, Amit Sharma. For the match-fixing, Chandrakar allegedly operated through Dinesh Khambat from London and Chander Aggarwal, also based abroad. Bankar alleged that as much as ₹15,000 crore has been siphoned off. Mumbai-based social worker Prakash Bankar, who filed an FIR, claimed that the accused, including Chandrakar, were actively involved in match-fixing of major cricket matches and tournaments held in India. The owners have now been arrested under Section 19 of the Prevention of Money Laundering Act (PMLA). Last week, the Mumbai Police registered an FIR against the Khiladi app. As per the ED, seven FIRs have been filed by individuals who claim to have lost money on the app. The ED has also accused Chhattisgarh chief minister Bhupesh Baghel of accepting kickbacks worth ₹508 crore from the UAE-based promoters of the app. These accounts were being used to transfer money between India and Dubai for 'hawala' or underground banking transactions. ED alleged that the app was used to enroll new users, create user IDs, and launder money through a network 'no name' bank accounts.

The app was very popular with supposedly over 10 million users. The gambling app allowed users to bet in real-time on a number of games, including cricket, football, games of chance, and tennis. Mint delves into the events leading to the scam. The app, now blocked by the ministry of electronics and information technology (Meity), was allegedly overseen by individuals based in Dubai - Sourabh Chandrakar and Ravi Uppal. The company has reportedly amassed illicit funds worth over ₹450 crore ($57 million) with estimates indicating a staggering ₹5000 crore diverted by the entity in ‘hawala transactions’.

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