The ED alleges the companies lured the public for investment with promises of high returns between 2019 and 2021 without regulatory approvals, causing an estimated wrongful loss of over ₹250 crore to depositors.
BY PC Bureau
January 2, 2026: The Enforcement Directorate (ED) has provisionally attached immovable properties worth ₹33.66 crore in connection with a multi-crore investment fraud in Manipur, taking the total value of assets seized in the case to ₹61.68 crore, officials said on Thursday.
The latest action follows a second Provisional Attachment Order (PAO) issued by the ED’s Imphal Sub-Zonal Office under the Prevention of Money Laundering Act (PMLA). The attached properties are linked to Birla Emporium Pvt Ltd, Ira Finance Pvt Ltd, their director Yumnam Irabanta Singh, and associated individuals.
According to the agency, Singh and his associates allegedly cheated around 5,000 investors through an unauthorised deposit and investment scheme that operated between 2019 and 2021. The companies are accused of collecting large sums from the public by promising unusually high returns without obtaining mandatory approvals from financial regulators such as the Reserve Bank of India or the Securities and Exchange Board of India.
Investigations revealed that the entities ran parallel schemes, including unauthorised deposit mobilisation and loans against property. In several cases, properties pledged as collateral were allegedly transferred through sale deeds into the names of company directors, employees or associates, effectively dispossessing borrowers, the ED said.
The agency estimates that investors suffered a wrongful loss exceeding ₹250 crore, while the accused generated substantial proceeds of crime. These funds were allegedly diverted to acquire multiple movable and immovable assets, some of which were registered in the names of third parties to conceal ownership.
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The ED initiated the money-laundering probe on the basis of multiple FIRs filed by the CID (Crime Branch), Manipur Police, under various provisions of the Indian Penal Code, including cheating and criminal breach of trust. Earlier, assets worth ₹28.02 crore had been provisionally attached in the case.
A prosecution complaint seeking confiscation of the attached properties was filed before the Special PMLA Court in Imphal East on June 6, 2025, followed by a supplementary complaint in July 2025 as further evidence emerged.
Officials said further investigation is underway to trace additional assets and identify other beneficiaries linked to the alleged scam. The case has drawn attention to the risks posed by unregulated investment schemes in the region, with many victims belonging to middle- and lower-income groups.
