Chandigarh: The Enforcement Directorate (ED) has provisionally attached assets worth ₹55.57 crore in connection with an alleged ₹100 crore GST fraud and the subsequent money laundering investigation. According to the agency, the action has been taken against Gurugram-based Hampton Sky Realty Limited (HSRL), its former Chairman and Managing Director Sanjeev Arora, his relatives, and associated entities. The investigation is being conducted under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
Assets Worth ₹55.57 Crore Attached
According to the ED, the attached assets include fixed deposits, bank accounts, land parcels, commercial properties, and residential apartments located in Ludhiana, Gurugram, and Chandigarh. Investigators suspect that these assets are linked to proceeds generated from the alleged financial irregularities and money laundering activities.
Registration Begins for FutureCrime Summit 2026, India’s Largest Cybercrime Conference
The agency has alleged that HSRL, primarily engaged in the real estate business, falsely claimed to have exported mobile phones worth approximately ₹157 crore to two UAE-based companies, Fortbell Telecom FZCO and Dragon Global FZCO, during 2023-24. The ED suspects that these exports were merely paper transactions and that no genuine overseas shipments took place.
Fake Export Claims Under Probe
Investigators further allege that the mobile phones were procured within India, while the export transactions were fabricated through documentation. According to the agency, shell companies, common mobile numbers, and shared email IDs were allegedly used to generate bogus invoices and accommodation entries, creating the appearance of legitimate export transactions.
The ED stated that its investigation has so far identified proceeds of crime amounting to approximately ₹102.99 crore, allegedly generated through the fake sales. The agency is examining the source, movement, and utilisation of these funds and is also investigating whether additional individuals or business entities were involved in the alleged network.
Sanjeev Arora In Judicial Custody
Sanjeev Arora was arrested by the ED from his official residence in Chandigarh last month and is currently in judicial custody. He has, however, denied all allegations and maintained that he has no involvement in any illegal activities.
Investigators are now scrutinising financial transactions involving Arora, his family members, and associated business entities. Bank records, corporate documents, digital evidence, and other financial trails are being examined to determine whether the alleged proceeds of crime were invested in the attached properties and to identify the roles of other individuals connected to the case.
Money Trail Being Examined
The investigation remains ongoing. The ED has indicated that additional attachments and further legal action may follow if fresh evidence emerges during the course of the probe. Authorities continue to examine every aspect of the alleged fake export transactions, GST fraud, and money laundering network to establish the complete financial trail and identify all persons responsible.
