In BW Businessworld’s latest issue: The Mahadev Files, India’s finance leaders

BW Businessworld's latest issue is now on stands, anchored by an exclusive investigation, The Mahadev Files, that looks past the Mahadev operation's public identity as a betting scandal to examine the financial architecture investigators say sustained it.

The edition also features a special showcase of India's Best CFOs & Finance Leaders, and a global package on marketing, advertising and the accelerating role of AI in creativity and business growth.

The Mahadev Files

The cover story is built on Enforcement Directorate orders, CBI chargesheets, judicial records and statutory disclosures, piecing together what investigators describe as an alleged unlicensed financial system operating in parallel to India's regulated economy. The investigation examines how betting applications, borrowed identities and shell companies are alleged to have been used to move funds offshore, and traces threads connecting this system to listed companies and, notably, the acquisition of a Nasdaq-listed business.

Beyond reconstructing the alleged mechanics of the operation, the story raises pointed questions for India's regulatory and financial ecosystem, on the adequacy of KYC systems, the vulnerabilities of banking channels, the rigour of auditing practices, the effectiveness of anti-money-laundering surveillance and the strength of securities oversight and due diligence at institutions that came into contact with the alleged network.

India's Best CFOs & Finance Leaders

This issue also honours India's Best CFOs & Finance Leaders, recognising professionals whose mandates have expanded well beyond traditional financial reporting. The feature reflects how, amid volatility, technological disruption and intensifying regulatory scrutiny, the modern CFO role has moved to the centre of corporate strategy, shaping capital allocation, building organisational resilience, strengthening governance and safeguarding stakeholder trust.

AI, Creativity And Growth

Rounding out the edition is a special package featuring conversations with global marketing and advertising leaders from Omnicom, WPP, Havas, Dentsu, Criteo and other influential organisations. The package explores how artificial intelligence is moving from experimentation to real-world deployment, and how creativity, media planning and marketing strategy are becoming increasingly technology-led as a result.

Across investigation, finance and creativity, the issue is tied together by a single idea - technology and systems can extend human capability, but judgement, accountability, trust and consequence remain fundamentally human responsibilities, whether in tracing illicit financial flows, steering corporate strategy or building brands in an AI-augmented world. 

The recent issue of BW Businessworld is now available in both digital and print formats. Read BW Businessworld’s latest digital edition here for more insights and the full stories. 

About BW Businessworld

BW Businessworld, with a 45-year legacy, is India’s fastest-growing 360-degree business media house. With a network spanning 23 niche business communities and 10 magazines, BW Businessworld is proud to be entrenched in various domestic and global verticals that organise conferences and forums to facilitate interaction between sectoral business leaders and create a conducive environment for collaboration. All BW issues are also digitally covered, including online and video stories, and eMagazine is available for every issue.