In recent weeks, several Indian news portals and major financial-news platforms — including TICE News — have been served legal notices by the legal team of Hari Shankar Tibrewala. These notices object to various articles that, according to the notices, contain defamatory statements or unverified allegations about his business activities. The issue has escalated into formal legal proceedings in the Enforcement Directorate (ED)’s ongoing investigations and now also involves an injunction petition filed in the District Court of Dwarka (New Delhi).

Why the Legal Notices?

The core reason behind the notices: extensive media reporting on allegations of money-laundering, illegal betting networks, offshore fund routing, and share-market manipulation linked to Mr. Tibrewala. According to ED documents, the network under investigation is connected to the Mahadev Online Book betting syndicate and linked to investment of illicit funds into Indian listed companies via foreign entities. Directorate of Enforcement+2Directorate of Enforcement+2 Given that these investigations are ongoing (not court-adjudicated), Tibrewala’s legal team argues that certain published narratives exceed verifiable facts and may constitute reputational damage.

Injunction Filed in Dwarka Court

Reviewed legal notices and court filings show that Mr. Tibrewala’s legal counsel has requested the Court to issue an ex parte temporary injunction. The key relief sought includes:

• Removal or redaction of stories or portions thereof that Mr. Tibrewala claims are defamatory.
• Immediate restraint on further publication of similar content.
• Compliance from the named media outlets.

An ex parte injunction means the court may grant interim relief without first hearing the opposing party — used typically when irreparable harm or urgency is alleged.

Nine Media Houses Made Party to the Legal Action

According to the notices obtained by TICE News, nine media organisations have been made parties to the injunction petition, among them:

• TICE News
• Moneycontrol
• Business Standard
• Dow Jones
• Five other digital/print financial news platforms

These media houses are alleged by Mr. Tibrewala’s counsel to have published content that is speculative, unsupported by verifiable sources, or mis-represented his involvement. The notices demand takedown or modification of specific headlines, segments, or narratives that his legal team believes misrepresent the facts.

"When stories simply reference ED’s publicly available press releases and still attract legal notices, it raises a serious question — will an injunction now be filed against the ED website itself? This appears to be strategic legal positioning, using injunctions to gain procedural leverage and influence how media coverage may evolve."
— Manoj Singh, Editor, TICE News

Selective Targeting Raises Questions

A notable and unusual feature of this legal action is the selective naming of media organisations. Despite wide national coverage of Mr. Tibrewala’s affairs across several major outlets, the legal notices do not appear to include some of those larger institutions. This raises questions such as:

• What criteria determined which publications were targeted?
• Is there a strategic focus on smaller outlets where injunctive relief may be easier?
• Why were high-profile outlets reportedly omitted?

Legal observers suggest that selective litigation is sometimes used to establish precedent or send a message before approaching larger media groups.

Who is Hari Shankar Tibrewala?

According to enforcement filings and major media reports, Mr. Tibrewala is a businessman originally from India, now reported based in Dubai, linked to several Dubai-registered entities that have invested in Indian listed companies. His name first came to public attention via ED press releases connected to the Mahadev Online Book investigation. Directorate of Enforcement+1

Allegations by Authorities (Not Court Findings)

1. Links to Illegal Betting Network & Hawala Flows

• ED describes Mahadev Online Book as an umbrella online betting syndicate operating via “panel/branches” and laundering via layered benami accounts. Directorate of Enforcement+1
• On March 1, 2024, ED’s press release stated that Tibrewala “is a huge hawala operator” who partnered with Mahadev promoters and used his Dubai-based entities to invest the betting proceeds into the Indian stock market. Directorate of Enforcement
• On March 8, 2024, ED alleged that Tibrewala used an associate (Suraj Chokhani) to launder funds, and that, as of February 29, 2024, entities linked to him held securities worth roughly ₹580-₹606 crore. Directorate of Enforcement

2. Stock-Market Layering & Small-Cap Manipulation

• A February 4, 2025 Mint report states that ED had taken control of shares in at least 14 publicly listed companies that had been held via entities linked to Tibrewala. mint
• The same piece reports the transferred holdings had a market-cap of ~₹21,880 crore and were valued at ~₹590 crore as of February 1, 2025. mint

3. Freezes, Attachments & Confiscations

• The March 1, 2024 ED press release cited freezing of securities worth ₹580.78 crore linked to entities beneficially owned by Tibrewala under PMLA. Directorate of Enforcement
• Media reports in December 2024 noted ED attached assets worth about ₹387.99 crore in the Mahadev case. The Times of India
• These actions are part of enforcement proceedings under the Prevention of Money Laundering Act (PMLA). No publicly reported final conviction was identified in the reviewed sources at time of writing.

Why Are the Notices Being Sent Now?

From the legal notices and the broader context, several motives emerge:

• Defamation & reputation management: With serious allegations circulating and investigations ongoing, Mr. Tibrewala’s legal team appears to be pre-emptively addressing media narratives.
• Narrative control during investigations: As new ED actions (attachments, confiscations) continue to surface, the legal campaign aims to manage how the story is portrayed while matters are sub judice.
• Strategic legal positioning: Filing injunctions gives the legal team procedural leverage — setting the stage for how media coverage may evolve.
• Pre-emptive reaction to perceived mis-reporting: The notices claim that some articles rely on unverified sources or mix allegations with conclusions, thereby prompting legal challenge.

What Happens Next?

The case is now pending before the District Court of Dwarka. Expected next steps include:

• The court will decide whether the ex parte injunction is justified.
• The media houses named may file counter-affidavits or seek clarification.
• Subsequent hearings will determine if takedowns or modifications are ordered.
• Until then, editorial teams of the named outlets are likely reviewing their content, preparing legal responses, and weighing journalistic risk.

Controlling the Narrative Amid Unresolved Legal Storm

The legal action initiated by Mr. Hari Shankar Tibrewala signals a focused effort to challenge and control media coverage of an unfolding regulatory investigation. While the ED’s allegations encompass illegal online betting, cross-border fund flows, and manipulation of small-cap stocks, none of the reports cited publicly show a final legal verdict as of now. The fact that nine media houses — including TICE News— have been named, while other larger publications are not, adds a layer of strategic selectivity to the story. As proceedings in the Dwarka court move forward, the case underscores the tension between press freedom, investigative journalism, and the rights of individuals to protect their reputations in complex, evolving financial-crime investigations.

Right of Reply

TICE News extends an open invitation to Mr. Hari Shankar Tibrewala or his authorised legal representatives to provide a formal response, clarification, or explanatory statement. Any such reply will be published in full. Write to us on editorial@tice.news