The Enforcement Directorate (ED) on Tuesday carried out extensive search operations at six locations across Punjab, Uttar Pradesh, and the Delhi-NCR region in connection with an ongoing money laundering investigation involving Hampton Sky Realty Limited. The searches are part of a wider probe into an alleged financial fraud involving fake GST transactions, fraudulent export claims, and the laundering of illicit funds.
According to ED officials, the raids are being conducted at premises located in Ludhiana and Jalandhar in Punjab, Bareilly in Uttar Pradesh, and the Delhi-Noida region. The locations being searched include both residential and commercial properties linked to individuals and entities associated with Hampton Sky Realty Limited. Officials said the operation is aimed at gathering further evidence related to the alleged financial irregularities and money laundering activities.
The case has drawn significant attention as it is linked to Aam Aadmi Party (AAP) leader and Punjab Minister Sanjeev Arora. The ED has alleged that a large-scale money laundering network was operated through entities connected to Arora, involving fraudulent GST transactions and suspicious export activities.
According to the agency's investigation, the alleged scheme involved the creation of fake GST purchase records for mobile phones worth more than ₹100 crore. These transactions were reportedly shown as purchases from non-existent firms based in Delhi. The ED claims that the fabricated invoices were then used to fraudulently claim Input Tax Credit (ITC), GST refunds on exports, and duty drawback benefits from the government.
Investigators further allege that the mobile phones were exported in a manner designed to facilitate the round-tripping of funds. The ED has stated that proceeds generated through these transactions were routed through Dubai and subsequently brought back into India, thereby concealing the origin of the funds and giving them the appearance of legitimate business earnings.
The agency believes the alleged operation caused substantial losses to the government exchequer through wrongful tax credit claims and fraudulent refunds. At the same time, the accused entities are suspected of having gained significant financial benefits through the manipulation of tax and export incentive mechanisms.
The ongoing searches are expected to focus on the seizure of financial records, digital devices, banking documents, and other evidence that could help establish the flow of funds and identify additional beneficiaries of the alleged scheme.
While the ED has not yet released details of the material recovered during the raids, officials indicated that the operation forms part of a broader effort to unravel the financial network behind the suspected laundering activities. Further disclosures are expected once the search proceedings are completed and the seized evidence is examined.
The latest action underscores the agency's continued scrutiny of cases involving alleged GST fraud, export-related irregularities, and the misuse of financial channels for laundering illicit funds. As the investigation progresses, the findings could have significant legal and political ramifications given the high-profile names linked to the case.
Leave Your Comment