E-Paper
FEMA probe: ED expands probe, raids premises of Arora’s aide
The Enforcement Directorate (ED) on Saturday widened its ongoing probe under the Foreign Exchange Management Act (FEMA) by conducting searches on the premises of Neeraj Satija, an associate of cabinet minister Sanjeev Arora, in the Model Town area of Ludhiana
The Enforcement Directorate (ED) on Saturday widened its ongoing probe under the Foreign Exchange Management Act (FEMA) by conducting searches on the premises of Neeraj Satija, an associate of cabinet minister Sanjeev Arora, in the Model Town area of Ludhiana.
The ED on Friday carried out searches at the residences and offices of Arora, his son Kavya, and his business partners across 13 locations in Punjab, Haryana, and Chandigarh.
The operation, conducted under FEMA, involves allegations of money laundering, round-tripping of funds from the UAE, and links to illegal betting syndicates.
Arora, who holds the industries, commerce and local bodies portfolios, is an industrialist-turned-politician.
On Saturday, ED teams reached Satija’s residence and office early in the day. The agency is believed to have recovered certain documents during earlier searches.
The action is also linked to a farmhouse project along Ladowal Road that recently received government approval. According to people familiar with the matter, the project involves five-to-six partners, including Satija and Hemant Sood.
The project reportedly proposes the development of 30 to 40 farmhouses, each spread over an area of one acre or more, along Ladowal Road.
The ED has not issued an official statement on the raids so far, and further investigation is underway.
On Saturday, the ED concluded raids on the premises of Arora after a 24-hour intensive search. The ED has seized some documents from his premises, people privy to the probe said.
Investigators are examining multiple financial irregularities linked to Hampton Sky Realty Ltd, a firm promoted by Arora where his son, Kavya, serves as managing director. The agency alleges that the firm engaged in illegal land-use changes, fraudulent sales bookings to manipulate share prices, and insider trading.
According to officials, Arora’s business partner, Hemant Sood of Findoc Finvest, assisted in round-tripping funds from the UAE and laundering proceeds from insider trading. Sood is alleged to have assisted hawala operators in channeling crime money into India via the Foreign Portfolio Investment (FPI) route.
The probe has also linked the minister to Jalandhar-based businessman Chander Shekhar Aggarwal, an accused in the ₹6,000-crore Mahadev App scam who reportedly operates the ‘Khiladi Book’ betting platform. ED officials suspect Arora used political influence to provide protection to illegal betting operators in exchange for a share of profits. The agency alleges these funds were converted into legitimate investments through fake purchases from non-existing GST entities and invested in real estate via Arora’s companies.
