The Enforcement Directorate on Friday conducted searches at the residence of Punjab industries minister Sanjeev Arora, his son and some others in connection with a probe into alleged foreign exchange violations linked to insider trading in stock markets and round-tripping of betting funds from the UAE to India, sources said.

AAP leader Arvind Kejriwal said in a post on X: “Will the Prime Minister tell how much black money has been recovered so far in several raids against AAP leaders?”

A total of 13 residential and official premises in Ludhiana, Jalandhar, Gurgaon and Chandigarh were raided under the provisions of FEMA. This included the residences and offices of Arora, his real estate company Hampton Sky Realty Ltd (formerly Ritesh Properties and Industries Ltd) and those of Arora’s son Kavya Arora (the MD of the said company) in Ludhiana, an official said.

The premises of Hemanth Sood, who runs a financial investment and stockbroker company named Findoc Finvest Private Ltd in Ludhiana and that of Jalandhar-based businessman and alleged bookie Chandra Shekhar Aggarwal were also raided.