The Enforcement Directorate on Saturday launched a series of searches across Punjab, Delhi, Gurugram and Chandigarh in connection with an alleged financial fraud and money laundering network linked to Punjab Power Minister and AAP MLA Sanjeev Arora.
Officials conducted raids at multiple business and residential premises connected to Arora, his associates and several companies under investigation for suspected fake GST transactions, foreign fund routing and hawala dealings. Among the locations searched were offices linked to Hampton Sky Realty Limited along with properties associated with businessmen Hemant Sood and Chandrashekhar Agrawal.
According to investigators, the case revolves around alleged bogus GST purchases involving mobile phone trading worth over ₹100 crore. Agencies suspect that fake invoices were created through shell firms operating in Delhi to fraudulently claim input tax credits, export-linked GST refunds and duty drawback benefits.
The ED believes a portion of the funds was allegedly transferred through overseas channels connected to Dubai and the UAE before being routed back into India through export and investment transactions.
The probe has also widened into suspected hawala operations, illegal foreign exchange movements and online betting activities. Investigators are examining whether proceeds generated through betting platforms and unaccounted cash transactions were invested into Punjab-based real estate and infrastructure businesses.
Officials alleged that Ludhiana businessman Hemant Sood and his company, Findoc Finvest Private Limited, may have played a role in routing overseas funds into India. Meanwhile, Jalandhar-based businessman Chandrashekhar Agrawal is under scrutiny for alleged links to an online betting platform known as “Khiladi Book,” which agencies claim was used to move funds abroad before reinvesting them domestically.
Investigating agencies are also reviewing the financial operations of Hampton Sky Realty Limited, formerly known as Ritesh Properties and Industries Limited. The company is involved in several real estate projects across Punjab. Authorities suspect possible irregularities related to land transactions, inflated sales figures and movement of foreign funds.
The ED is further examining whether political connections were used to shield illegal operations and facilitate the circulation of unaccounted money through business networks.
Reacting strongly to the raids, Punjab Chief Minister Bhagwant Mann accused the BJP-led Centre of using central agencies to pressure opposition leaders.
Addressing reporters in Sangrur, Mann claimed agencies such as the ED, CBI and Income Tax Department were being used selectively against non-BJP governments.
“The purpose of these raids is political pressure. They want leaders to surrender and switch sides,” Mann alleged.
The Chief Minister also stated that this was not the first action against Sanjeev Arora and claimed Punjab was being repeatedly targeted by the Centre on political grounds. Mann asserted that intimidation tactics would not succeed in Punjab and said the state had previously resisted pressure during the farmers’ protest movement.
