The Enforcement Directorate (ED) on Friday conducted extensive searches at multiple locations linked to Punjab minister and MLA Sanjeev Arora, his family members, and business associates, as part of an ongoing investigation into alleged financial irregularities and money laundering.
According to officials, raids were carried out at 13 premises spread across Gurugram, Chandigarh, Ludhiana, and Jalandhar under the provisions of the Foreign Exchange Management Act (FEMA). The searches included residential and office properties linked to Arora, his son Kavya Arora, and business associates Hemanth Sood and Chandrasekhar Aggarwal.
Arora is the promoter of Hampton Sky Realty Ltd, formerly known as Ritesh Properties and Industries Ltd, a firm involved in large-scale real estate and infrastructure projects in Punjab. His son currently serves as the managing director of the company.
The ED is probing a range of allegations against the firm, including illegal land-use changes, inflated and fraudulent sales bookings aimed at manipulating share prices, suspected insider trading, and the round-tripping of funds from the UAE. Investigators are also examining claims that unaccounted money—allegedly linked to illegal betting operations—was routed back into India and invested in real estate ventures.
Hemanth Sood, who heads Findoc Finvest Private Limited, is under scrutiny for allegedly facilitating financial transactions and routing funds connected to suspected insider trading and laundering activities. Meanwhile, Jalandhar-based businessman Chandrasekhar Aggarwal is being investigated for alleged links to betting networks and hawala transactions.
Officials suspect that proceeds from illegal betting and other activities were laundered through a network of companies and intermediaries before being channelled into legitimate investments. The agency is currently analysing documents and bank records seized during the raids. No arrests have been made so far, and the investigation remains ongoing.
The development has triggered a sharp political response, with Punjab Chief Minister Bhagwant Mann accusing the Centre of targeting opposition-ruled states.
Addressing a press conference in Chandigarh, Mann said India’s federal structure ensures states their rightful share but alleged that non-BJP governments are increasingly facing pressure through financial constraints and central agency actions. He claimed that the rapid rise of the Aam Aadmi Party has unsettled the Bharatiya Janata Party.
Mann further pointed to past cases involving AAP leaders, including Arvind Kejriwal, Manish Sisodia, and Satyendar Jain, alleging that central agencies were used to target them. He also claimed that party workers were pressured to switch allegiance to the BJP.
Calling the situation “politics of intimidation,” Mann alleged that such tactics were aimed at weakening opposition parties. He also cited developments in West Bengal, claiming administrative changes and asserting that elections should be won through democratic processes rather than coercion.
As the probe continues, the ED’s findings and any subsequent legal action are likely to have significant political and legal implications in the coming weeks.
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