ED attaches ₹55.57 crore assets in Ludhiana, Gurugram in bogus mobile export case
Synopsis
A real estate company allegedly fabricated over ₹102 crore in mobile phone exports to UAE shell firms it reportedly controlled — and used the proceeds to acquire flats and fixed deposits. The ED's ₹55.57 crore attachment and the arrest of HSRL's former CMD Sanjeev Arora expose a cross-sector laundering playbook that is becoming harder to ignore.
Key Takeaways
The ED provisionally attached assets worth ₹55.57 crore on 25 June , including apartments, land, and fixed deposits in Ludhiana , Gurugram , and Chandigarh .
Hampton Sky Realty Limited (HSRL) , formerly Ritesh Properties and Industries Ltd. , allegedly reported bogus mobile phone exports of ₹102.50 crore to two UAE -based entities in FY 2023-24 .
Supplier firms used to procure the phones were found to be largely shell or non-existent , linked through common contact details.
Total proceeds of crime quantified at ₹102.99 crore ; investigation into local sales is ongoing.
Former CMD Sanjeev Arora was arrested on 9 May and remains in judicial custody .
The Enforcement Directorate (ED) has provisionally attached properties and financial assets worth ₹55.57 crore in Ludhiana, Gurugram, and Chandigarh in connection with an alleged bogus export of mobile phones involving Hampton Sky Realty Limited (HSRL), formerly known as Ritesh Properties and Industries Ltd. The attachment, carried out under the Prevention of Money-Laundering Act (PMLA), 2002, was confirmed by officials on Thursday, 25 June.
Assets Attached
The attached assets include bank accounts, fixed deposits, land, commercial premises, and residential apartments located across Ludhiana, Gurugram, and Chandigarh. These properties are held in the names of Hampton Sky Realty Limited, its erstwhile Chairman and Managing Director Sanjeev Arora, his family members, and associated entities.
The Alleged Fraud
According to the ED, HSRL — primarily a real estate company — reported mobile phone sales of approximately ₹157 crore during FY 2023-24, including purported exports worth about ₹102.50 crore to two UAE-based entities: Fortbel Telecom FZCO and Dragon Global FZCO.
Investigators found that the mobile phones were ostensibly procured from a network of supplier firms that were largely shell or non-existent concerns. These entities were allegedly interlinked through a common mobile number and common email IDs, used solely to generate bogus invoices and provide accommodation entries without any actual movement of goods.
The purported exports were also found to have been directed at entities reportedly under the beneficial control of the same group of persons, according to the ED. In effect, investigators allege, the entire transaction chain was fabricated.
Proceeds of Crime and Investigation
The ED has quantified the total proceeds of crime in the case at ₹102.99 crore, with investigations into local sales still ongoing. The agency initiated its probe based on an FIR registered by Police Station Udyog Vihar, Gurugram, Haryana, for offences under the Bharatiya Nyaya Sanhita, 2023 — corresponding to Sections 420, 467, 471, and 120-B of the Indian Penal Code (IPC), 1860 — all of which are scheduled offences under the PMLA.
Arrest and Custody
Search proceedings under Section 17 of the PMLA, 2002 were conducted on 9 May, during which Sanjeev Arora was arrested. He is currently in judicial custody, the ED confirmed. This case marks a notable instance of a real estate firm allegedly using phantom mobile phone export transactions to launder funds — a pattern the ED has flagged with increasing frequency in cross-sector money-laundering cases.
Further attachments are likely as the probe into local sales and associated entities continues.
Point of View
Then parks the proceeds in immovable property. What makes it notable is the alleged circular ownership of the UAE export counterparties, which, if proven, would mean the entire ₹102.50 crore 'export' was a closed loop. The ED's focus on shell supplier networks linked by a single mobile number and email ID points to a low-sophistication but high-volume operation. The larger question — how such transactions cleared GST and customs scrutiny — remains unanswered and deserves regulatory attention beyond the PMLA attachment.
NationPress
25 Jun 2026
Frequently Asked Questions
What is the ED's bogus mobile phone export case about?
The ED alleges that Hampton Sky Realty Limited, a real estate firm, fabricated mobile phone exports worth approximately ₹102.50 crore to two UAE-based entities during FY 2023-24. The supplier network used to show procurement was found to consist largely of shell or non-existent firms, and no actual goods movement took place.
Who has been arrested in the Hampton Sky Realty money-laundering case?
Sanjeev Arora, the erstwhile Chairman and Managing Director of Hampton Sky Realty Limited, was arrested on 9 May during search proceedings under Section 17 of the PMLA, 2002. He is currently in judicial custody.
What assets has the ED attached in this case?
The ED has provisionally attached assets totalling ₹55.57 crore, comprising bank accounts, fixed deposits, land, commercial premises, and residential apartments in Ludhiana, Gurugram, and Chandigarh. These are held in the names of HSRL, Sanjeev Arora, his family members, and associated entities.
What is the total proceeds of crime identified by the ED?
The ED has quantified the total proceeds of crime at ₹102.99 crore. Investigations into the local sales component of the alleged fraud are still ongoing, meaning this figure could rise.
Which UAE entities were allegedly used in the bogus export scheme?
The purported exports were directed at two UAE-based firms — Fortbel Telecom FZCO and Dragon Global FZCO. The ED alleges these entities were beneficially controlled by the same group of persons behind HSRL, making the transactions a closed-loop arrangement.
