Promoter/Director taken into ED custody under PMLA
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
EBIX Limited disclosed that its Promoter/Director Mr. Vikas Garg was taken into custody by the Directorate of Enforcement on July 14, 2026 under the Prevention of Money Laundering Act, 2002. This is linked to earlier proceedings (April 2025 and June 2026) about foreign entities and SEBI-registered FPIs that invested in the company and other listed firms. The company is consulting legal advisors and states business operations continue without material impact. Estimated amount involved is not ascertainable.
Negative sentiment likely; key promoter in ED custody raises governance and legal overhang risk, even though company claims no material business impact.