Hampton Sky Realty has publicly asserted its commitment to transparency and cooperation with the Enforcement Directorate (ED) in light of ongoing investigations into alleged financial irregularities. Following a series of raids conducted by the ED, which included a search of its premises in Gurugram, the company released a statement emphasizing its confidence in the integrity of its statutory records and the legal process. The firm expressed its belief that the truth will ultimately prevail, reiterating its intention to provide all relevant facts and documentation to the appropriate legal forums in due course.
The ED's actions stem from a broader investigation into a ₹100 crore money laundering case linked to purported fraudulent GST transactions. This crackdown included the arrest of Punjab industries minister Sanjeev Arora, who was apprehended at his residence in Chandigarh after the ED executed searches at five locations across northern India. The agency's latest actions were initiated after receiving intelligence related to alleged violations of the Prevention of Money Laundering Act (PMLA) and the Foreign Exchange Management Act (FEMA). Prior raids had already resulted in the provisional attachment of assets associated with Arora and Hampton Sky Realty due to suspected financial misconduct.
According to the ED, the current inquiry focuses on alleged “fake” GST purchases of mobile phones exceeding ₹100 crore and the subsequent export of these goods, which they claim facilitated a cycle of illegitimate financial transactions between Dubai and India. The agency has accused the company of acquiring multiple false GST purchase invoices from non-existent firms in Delhi, enabling them to claim input tax credits unjustly. In response, Hampton Sky Realty has maintained that it entered the cellphone export business in May 2023, recognizing the government's recognition of mobile phone exports as a vital sector.
The company stated that during its operational period, it exported 44,471 units of branded mobile handsets and accessories, all of which were subject to verification by independent authorities. Hampton Sky Realty has emphasized that all transactions have been conducted transparently, with bank realization certificates confirming the full receipt of export proceeds uploaded to the relevant government portal. The statement asserts that no funds have been concealed or routed back to any individuals or entities, and the trail of receipts and payments remains open and accessible. This clarifies the company's position against the allegations of round-tripping and underscores its commitment to compliance with legal and regulatory standards.