The Directorate of Enforcement (ED) has provisionally attached assets worth Rs 55.57 crore in a money laundering case linked to Gurugram-based real estate firm Hampton Sky Realty Limited (HSRL), formerly Ritesh Properties and Industries Limited, and its associates.
The attached properties include bank accounts, fixed deposits, land, commercial premises and residential apartments in Ludhiana, Gurugram and Chandigarh. These are held in the names of HSRL, its former chairman and managing director Sanjeev Arora, his family members and related entities.
Arora, 62, was arrested by the central agency from his official residence in Chandigarh on May 9 in 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.
The ED said 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 about Rs 157 crore to two UAE-based firms — Fortbell Telecom FZCO and Dragon Global FZCO — during 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.
Arora, a former CMD of HSRL, was the minister for power, industry and commerce. After his arrest, the Bhagwant Mann-led Punjab government allocated his portfolios to other ministers.
