ED Attaches Assets Worth Rs 55.57 Crore in Money Laundering Case
The Enforcement Directorate (ED) has provisionally attached assets valued at Rs 55.57 crore in a money laundering investigation involving Gurugram-based real estate firm Hampton Sky Realty Limited (HSRL), formerly known as Ritesh Properties and Industries Limited, and its associates. The attached properties include bank accounts, fixed deposits, land, commercial premises, and residential apartments located in Ludhiana, Gurugram, and Chandigarh. These assets are held in the names of HSRL, its former chairman and managing director Sanjeev Arora, his family members, and related entities.
Sanjeev Arora Arrested in GST Fraud Case
Sanjeev Arora, 62, was arrested by the central agency from his official residence in Chandigarh on May 9 in connection with an alleged Rs 100-crore GST fraud case linked to mobile phone sales. The former Punjab minister is currently under judicial custody in a Haryana jail. Arora had served as the minister for power, industry, and commerce in the Bhagwant Mann-led Punjab government. Following his arrest, his portfolios were allocated to other ministers.
Details of the Money Laundering Probe
The ED stated that the action was taken under the Prevention of Money Laundering Act (PMLA), 2002. Investigations revealed that HSRL, primarily a real estate company, allegedly showed fictitious export sales of mobile phones worth approximately Rs 157 crore to two UAE-based firms — Fortbell Telecom FZCO and Dragon Global FZCO — during the financial year 2023-24. According to the agency, the phones were procured locally, but no genuine exports took place. Instead, the company allegedly used shell firms, shared mobile numbers, and email IDs to generate bogus invoices and provide accommodation entries. The ED has quantified the total proceeds of crime at about Rs 102.99 crore.
Impact and Legal Proceedings
The attachment of assets is part of the ED's ongoing crackdown on money laundering and financial fraud. The agency continues to investigate the role of Arora and other entities involved in the case. The former minister remains in judicial custody as legal proceedings advance.
