Finance – ED Conducts Multi-City Raids Linked to Punjab Minister Probe
Finance – The Enforcement Directorate on Friday carried out coordinated searches at several locations connected to Punjab’s Industries Minister Sanjeev Arora as part of an ongoing financial investigation.
The action, which began early in the morning, covered multiple cities including Gurgaon, Chandigarh, Ludhiana, and Jalandhar. Officials familiar with the matter said the searches were conducted under the provisions of the Foreign Exchange Management Act (FEMA). Teams of investigators targeted residential and official properties associated with the minister, as well as locations linked to his relatives and close business associates.
Searches Span Multiple Cities and Properties
According to sources, around 13 premises were included in the operation. Among those examined were properties linked to Arora’s family, including those connected to his daughter. Authorities were accompanied by central paramilitary personnel to ensure security during the searches.
At the time of the raids, Arora was reportedly travelling abroad as part of a state initiative aimed at attracting international investment. He had departed for Amsterdam late Thursday evening under the “Invest Punjab” programme. Other senior officials, including the Chief Minister, are also expected to undertake similar visits in the coming days.
Company Under Scanner for Financial Irregularities
Investigators are examining the role of a real estate firm linked to the minister. The company, currently known as Hampton Sky Realty Ltd, has been involved in large infrastructure and property projects across Punjab. Authorities suspect multiple violations, including unauthorized changes in land use and alleged manipulation of financial records.
Sources further indicated that the firm is being scrutinized for possible stock market irregularities, including inflated transactions aimed at boosting share value. There are also allegations regarding insider trading and the routing of funds from overseas sources into India through questionable channels.
The company is presently managed by Arora’s son, who serves as its Managing Director. His premises were also part of the search operation.
Minister Responds, Assures Cooperation
Following the development, Arora stated that he would cooperate fully with the authorities. In a public message, he emphasized his willingness to assist investigators and expressed confidence that the facts would eventually come to light.
This is not the first time agencies have looked into matters linked to the minister. In 2024, the Enforcement Directorate had initiated action against entities associated with him, alleging financial losses to the state due to the misuse of industrial land for residential purposes.
Other Individuals Also Under Investigation
The ongoing probe is not limited to Arora alone. Officials confirmed that searches were also conducted at the premises of individuals believed to be connected to the case. These include a financial services operator based in Ludhiana and another individual in Jalandhar suspected of involvement in illegal betting activities.
Earlier in the same week, the agency had carried out similar operations at locations linked to a Rajya Sabha member and his educational institutions in Punjab and Haryana, also under FEMA provisions.
Political Reactions Intensify
The developments have triggered strong reactions in political circles. Leaders from the ruling party in Punjab have questioned the timing and intent of the raids, alleging that such actions are driven by political considerations.
The Chief Minister criticized the central government, accusing it of selectively targeting administrations that are not aligned with it. Meanwhile, opposition leaders have welcomed the investigation, suggesting that accountability must be ensured in cases involving public office holders.
As the investigation progresses, officials are expected to analyze documents and digital evidence collected during the searches. Further action will depend on the findings of the ongoing probe.