The Enforcement Directorate (ED) has attached properties in Ludhiana, Gurugram, and Chandigarh, along with fixed deposits and other assets totaling Rs 55.57 crore in connection with a case involving the fake export of mobile phones. These properties, including bank accounts, fixed deposits, land, and apartments, were provisionally attached under the Prevention of Money-Laundering Act.
The investigation by the ED focused on Hampton Sky Realty Limited (HSRL) and its associated entities and individuals. The ED’s probe revealed that HSRL, a real estate company, falsely reported selling mobile phones worth around Rs 157 crore, with alleged exports of about Rs 102.50 crore to two UAE-based firms.
The ED found that the mobile phones were supposedly sourced locally from shell companies connected through common contact details, used to create fake invoices without any actual product movement. The exports were claimed to have been sent to entities controlled by the same group of individuals. The total Proceeds of Crime identified in the case amount to Rs 102.99 crore, with ongoing investigations into local sales.
Search operations were carried out under the PMLA on May 9, leading to the arrest of Sanjeev Arora, the former Chairman and Managing Director of HSRL and the primary accused in the case. Arora is currently in judicial custody as per the ED’s statement.
