Acting on reliable information, special teams had been constituted a few days ago under the supervision of Deputy Police Commissioner (Enforcement) Pravin Patil and accordingly a raid was conducted at a flat in Vireshwar Heights in suburban Vile Parel last evening, police said.
"Bookies Bipin Velji and his brother Paresh and two of their associates Anil Kamat and Pranay Gandhi were caught red handed while accepting bets on a semi-final match between Chennai Super Kings and Kings XI Punjab. The four were found accepting bets from people across India," a police officer from Social Service Branch alleged.
Preliminary probe brought to light stashing of ill-gotten money at Paresh's Borivali residence. "Accordingly, his residence in Kent Garden building was thoroughly searched and Rs 40.73 lakh were recovered," the officer added.
The four accused were later arrested under relevant sections of the IPC and further probe was on, police said.