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Mahadev Betting Case: ED strikes hard, Real owner of the Mahadev Girish Talreja arrested, Co-Owner Ratan Lal Jain is absconding

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ED has taken swift action in Mahadev Betting App case. Based on information received,  the ED team on Friday arrested one of the owners of the Mahadev App Girish Talreja from Bhopal, meanwhile his accomplice Suraj Chokhani too was taken into custody from Kolkata. On Sunday, both of them were produced in court in Raipur. ED’s lawyer argued for the remand of both of them. The court has sent both of them to jail for one day. Both of them will appear in Raipur court again on Monday.

Meanwhile, the other co-owner of the Mahadev App – Ratan Lal Jain is on the run. According to ED, transactions worth crores have been found with Girish Talreja, Ratanlal Jain and Shubham Soni. Shubham Soni is absconding, ED is searching for him. Suraj Chokhani, arrested from Kolkata, is accused of investing the money of Mahadev Satta App in the stock market. ED’s investigation also revealed that Nitish Diwan, a resident of Bhilai, used to live in Dubai with the promoter of Mahadev Satta App and worked as a panel operator. ED conducted raids in many cities of the country on 28th February.

International Criminal Police Organization (Interpol) has appointed a National Central Bureau (NCB) in all of its 195 member countries. These bureau serve as a single point of contact between Interpol and the respective law enforcement agencies of that member country.

In India, the Central Bureau of Investigation (CBI) is the official NCB that is tasked with publishing, maintaining, and updating Red Corner Notices against fugitives/offenders as needed by India’s law enforcement authorities.

The Mahadev Book case has seen arrests of several individuals recently. Arrested individuals included an ASI named Chandrabhushan Verma, a relative of mastermind named Satish Chandrakar, and hawala operators Anil Dammani and Sunil Dammani. Verma is accused of taking bribes amounting to Rs 65 crore and distributing it to other senior officials under him as well while the others are suspected of carrying out operations of the illegal betting network and laundering the proceeds out of the country.

Meanwhile, The ED presented the four high-profile accused to a special court recently which provided them their judicial custody for seven days which ended yesterday. During that time, ED successfully extracted various pieces of information on the illegal betting network and the people linked to it.

On February 28, simultaneous raids were conducted by the ED in Raipur, Kolkata, Gurugram, Delhi, Indore, and Mumbai. Ratan Lal Jain & Girish Talreja, a hawala operator, was identified in connection with the case. Ratan Lal Jain & Girish Talreja, currently residing in Dubai, was allegedly involved in operating an illegal betting app called Sky Exchange in collaboration with Mahadev app promoters. Assets worth Rs 580.78 crore belonging to Ratan Lal Jain & Girish Talreja have been seized under the Prevention of Money Laundering Act (PMLA).

It was discovered during the investigation that Ratan Lal Jain & Girish Talreja had been investing proceeds from illegal betting through his Dubai-based units into the Indian stock market via Foreign Portfolio Investments (FPIs). He had also appointed several associates as directors in the companies involved.

The ED release said that Ratan Lal Jain & Girish Talreja owned and operated one of the illegal betting websites viz. skyexchange, and was involved in large-scale hawala movement of the betting fund

The ED initiated its investigation based on FIRs registered by the Chhattisgarh Police. Subsequently, other FIRs registered by the Vishakhapatnam Police and other states were also included in the investigation. The ED’s investigation into Mahadev Online Book revealed large-scale hawala operations aimed at siphoning off the proceeds of betting to offshore accounts.

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Wiz will pay $450 million to acquire Cloud Remediation Startup Dazz

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Wiz revealed on Thursday that it will buy channel-focused company Dazz in an agreement to add cloud remediation capabilities to the vendor’s cloud and AI security platform.

With features like application security posture management and continuous threat and exposure management, Dazz provides a remediation-focused cloud security platform.

Jared Phipps, a seasoned cybersecurity industry executive who most recently worked for SentinelOne, was hired by Dazz in February as its CRO as the business sought to expand its collaboration with channel partners. Presidio, situated in New York, has been one of the key partners.

Dazz said in July that it has raised a $50 million round of funding, increasing its total funding since its 2021 launch to $110 million.

Dazz provides a “industry-leading remediation engine,” according to a post published on Thursday by Wiz Co-Founder and CEO Assaf Rappaport, which will allow Wiz to “empower security teams to correlate data from multiple sources and manage application risks in one unified platform.”

This is Wiz’s third purchase overall and its second acquisition of 2024 after the company’s April acquisition of cloud detection and response provider Gem Security.

Wiz, a four-year-old startup, reported in May that it had raised $1 billion in new capital at a $12 billion valuation, citing its continued strong development in the cloud and AI security areas. Annual recurring revenue (ARR) for the business reportedly increased from $350 million earlier this year to above $500 million.

After making a number of management additions aimed at facilitating quicker partner-driven growth, Rappaport stated in February that Wiz would prioritize its channel operations moving ahead.

I“In cybersecurity partners are super, super important in the success of a company. So we’ve always [seen that] this has huge potential for us to tap into. I think there is so much more we can do,” he stated at the time.

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ProRata, an AI startup, Teams up with UK Publishers after reportedly Hitting $130 Million in Valuation

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A number of well-known British media outlets have joined ProRata, an AI firm that claims to compensate publishers for the usage of their work, in its expanding network of partnerships.

The Los Angeles-based firm announced on Wednesday that it has signed licensing deals with publishers such as Sky News, the Guardian, and the Daily Mail’s publisher, DMG Media.

In a recent Series A funding round, ProRata raised $25 million from investors such as the Mayfield Fund, Prime Movers Lab, and Revolution Ventures.

“ProRata’s founder and CEO Bill Gross said his firm’s AI technology is the only one that pledges to credit and compensate creators, while providing users with accurate search results.

“We have had hundreds of content owners and media companies reach out to us from around the world who are interested in piloting our technology. Stealing and scraping content is not a sustainable path forward,” he continued.

Similar alliances have previously been formed by ProRata with the German publisher Axel Springer, the Atlantic, Fortune, Time, and Universal Music Group (UMG).

Media firms are offered reasonable compensation by ProRata for the use of their content. The startup’s in-house technology may determine the proper amount of pay by evaluating the worth of the information used to create responses from an AI platform. This would make it possible to pay copyright holders for their work on a per-use basis.

Gross had previously said that AI platforms have been using “shoplifted, plagiarized content,” which fosters an atmosphere in which “disinformation thrives and creators get nothing.”

Gross is recognized for having created the pay-per-click model of internet search monetization with his business, GoTo.com, which was eventually acquired by Yahoo! in 2003.

In a recent blog post, Tige Savage, a cofounder of Revolution, stated that Bill Gross is a serial entrepreneur with extensive experience in monetization techniques.

“He’s attracted a world-class tech team led by AI luminary Tarek Najm to implement the vision and an accomplished business team, including Annelies Jansen and Jonas Lee to drive content and AI partnerships,” Savage continued.

The unpaid use of copyrighted materials by OpenAI and other tech companies to train their AI systems has led to litigation from media companies and other content creators.

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Film Bazaar Unveils an Interactive Cinema App from an Indian Tech Startup

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Arjun Nittoor, the founder of the Indian technology firm Vireza, disclosed at Film Bazaar that the company is creating a new mobile application that would transform the experience of watching movies in theaters by enabling viewers to engage with the films in real time.

The technology, which was created wholly in-house at the company’s research and development department in Bengaluru, allows viewers to use their smartphones to vote on important plot points during the movie. To keep up with the current screening, patrons download an app before entering the theater and scan a QR code at their seat.

“The film industry is one of the few sectors where the audience experience has seen minimal technological disruption in theatres,” Nittoor stated. “While screen and sound quality have advanced and 3D has been partially adopted, the viewing experience has largely remained the same for decades.”

The screen automatically brightens to show voting options and dims again when choices are made. The system uses discreet phone notifications to encourage audience participation around every ten minutes.

In 2026, Vireza intends to introduce the technology with a full-length interactive movie that will be produced in both English and South Indian for international distribution. The business is presently in the development stage and will shortly start doing multiplex chain trial screenings.

CtrlMovie’s prior success in the interactive film industry was mentioned by Nittoor. CtrlMovie is well-known for “Traces of Responsibility” and “Late Shift.”

In order to overcome the difficulties in cinematography, editing, shot composition, and writing that plagued previous attempts at the format, the firm has spent five years creating what Nittoor refers to as “a new science of filmmaking” that is especially tailored for interactive cinema.

“Despite the proliferation of viewing devices, big-ticket films continue to draw massive crowds to theatres, with box office numbers higher than ever,”  Nittoor stated. “This demand underscores the potential for a meaningful technology shift that could draw audiences out of their homes and into cinemas.”

Other Asian businesses are likewise investigating audience-driven narrative in motion pictures. In February of the following year, Japan’s King Records intends to release “Hypnosis Mic – Division Rap Battle,” an animated interactive film.

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