India, April 21 -- Mahadev app, currently under investigation for orchestrating an online betting scam estimated to be worth around Rs.6,000 crore, was deploying the proceeds of crime in the Indian stock market, the Enforcement Directorate (ED) said on Monday, while adding that promoters of some listed companies are under investigation for "stock market manipulation".

The financial crimes probe agency made the revelation as it froze securities and bonds worth Rs.573 crore after multi-city raids last week in the case. The agency had, on April 16, carried out raids on several companies and individuals in Delhi, Mumbai, Indore, Ahmedabad, Chandigarh, Chennai and Sambalpur (Odisha).

"The search action resulted in seizure of cash amounting t...