Intimation under Reg 30 (LODR) Regulations, 2015 - Custody of Mr. Sanjeev Arora, part of Promoter/Promoter group of Hampton Sky Realty Limited by Directorate of Enforcement ("ED")
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Mr. Sanjeev Arora, part of the promoter/promoter group of Hampton Sky Realty Limited, was taken into custody by the Directorate of Enforcement (ED) on May 9, 2026 under Section 19 of the Prevention of Money Laundering Act, 2002 (PMLA). The custody relates to an investigation arising from an ECIR registered by the ED concerning mobile phone export transactions undertaken by the company in 2023-2024. The allegations pertain to purported sale transactions of approximately Rs. 157.12 crore, including overseas export transactions of around Rs. 102.50 crore, with alleged contravention of FEMA provisions. An FIR has also been registered with police authorities. The company states the exports were genuine (independently verified by OEMs including Apple and Samsung), all export proceeds were fully received, and the company was itself a victim of supplier-side GST fraud. The exact financial and operational impact is yet to be ascertained as the matter is under investigation.
The arrest of a promoter group member under PMLA for alleged FEMA violations is a significant negative development, raising governance and legal risks for the company. The investigation involves a substantial transaction amount (Rs. 157+ crore), which could affect investor confidence and the company's financial and operational position, pending the outcome of the inquiry.