₹33.66 Crore in Assets Attached as ED Probes Manipur Investment Case

The Enforcement Directorate (ED) has provisionally attached assets valued at ₹33.66 crore in connection with a major investment fraud case in Manipur that allegedly duped nearly 5,000 investors, officials said. The action has been taken against two Manipur-based private companies, their sole director, and associated individuals under the provisions of the Prevention of Money Laundering Act (PMLA).

According to officials, the Imphal sub-zonal office of the ED issued the second Provisional Attachment Order (PAO) against M/s Birla Emporium Pvt Ltd and M/s Ira Finance Pvt Ltd, along with their director, Yumnam Irabanta Singh, and others linked to the case. The attachment follows the discovery of additional properties believed to have been acquired using proceeds of crime.

The ED initiated its investigation based on multiple FIRs registered by the CID (Crime Branch), Manipur, under various sections of the Indian Penal Code. The FIRs alleged that Singh and his companies operated a fraudulent deposit and investment scheme between 2019 and 2021. During this period, the accused entities reportedly collected huge sums of money from the public by offering abnormally high returns on investments.

Investigators found that around 5,000 depositors across Manipur were cheated, resulting in wrongful losses estimated to exceed ₹250 crore. The accused allegedly diverted the collected funds for personal gain, generating substantial unlawful proceeds.

The probe further revealed that Birla Emporium Pvt Ltd and Ira Finance Pvt Ltd had extended loans under a “loan against property” model. However, instead of following legitimate financial practices, the companies allegedly transferred and registered the mortgaged properties in the names of company directors and staff through sale deeds. Officials said these actions were carried out without the knowledge or consent of the original property owners.

The ED noted that both companies abruptly ceased operations in the first quarter of 2020, leaving investors unpaid. Despite shutting down, the promoters retained control over several properties registered in their own names and failed to return them to the rightful owners. The agency said the diverted funds, classified as proceeds of crime, were used to acquire numerous movable and immovable assets.

Earlier in the investigation, the ED had provisionally attached assets worth ₹28.02 crore linked to the companies, Singh, and his associates. The agency has also filed a prosecution complaint before the Special PMLA Court in Imphal East on June 6, 2025, seeking confiscation of the attached properties.

Further investigation led to the identification of 121 additional immovable properties registered in the names of the two companies, Singh, and related individuals. These properties, now provisionally attached, are collectively valued at ₹33.66 crore.

With the latest attachment, the ED has so far seized assets worth a total of ₹61.68 crore in the case. Officials said the investigation is ongoing, and more actions may follow as the agency continues to trace and recover proceeds of crime linked to the alleged investment fraud.