Acting on a plea by victims, an Imphal court ordered the ED to initiate the auction of seized assets linked to Lamjingba Finance and restore funds on a pro-rata basis.
BY PC Bureau
January 8, 2026: In a significant relief for thousands of defrauded investors, a special court in Imphal has ordered the auction of immovable properties attached in the Lamjingba Finance case and directed that the proceeds be restored to the victims of the alleged financial scam.
The order was passed by the Special Judge under the Prevention of Money Laundering Act (PMLA), Imphal, in Criminal Miscellaneous Case No. 30 of 2025, initiated by Wahengbam Pratap Singh and 59 other investors. In its order dated December 29, 2025, the court allowed the plea seeking restitution from the assets seized by the Enforcement Directorate (ED) in connection with the Lamjingba Finance Group of Companies.
The petitioners, who described themselves as victims of a fraudulent investment and deposit scheme floated by Lamjingba Finance, had sought the restoration of their money from the proceeds of properties attached and seized by the ED during its probe. The ED’s Imphal Sub-Zonal Office has been named as a respondent in the case.
In Cri. Misc. Case No. 30 of 2025, initiated by Wahengbam Pratap Singh and 59 others, vide order dated 29.12.2025 the Special Judge (PMLA), Imphal, ordered the auction of immovable properties and directed that the proceeds be restored to the claimants. The application was… pic.twitter.com/NwERL6eoIJ
— ED (@dir_ed) January 8, 2026
According to the ED’s prosecution complaint, the Lamjingba Group of Companies, allegedly headed by Sanasam Jacky Singh and others, operated a fraudulent investment scheme that promised unusually high returns, thereby cheating a large number of unsuspecting investors. The scheme is said to have targeted gullible depositors across Manipur.
Earlier, on March 21, 2025, the Special Court had directed the publication of notices in two newspapers—one in vernacular language and another in English—inviting claims from affected investors under Rule 3(A) of the Prevention of Money Laundering (Restoration of Property) Rules, 2016. Following this, claims from approximately 4,391 investors and depositors were received and placed on record.
READ: ED–Didi Standoff in Bengal Moves to Calcutta High Court
Based on seven FIRs registered by the Manipur Police, the ED initiated an investigation under the PMLA, 2002. During the course of the probe, movable and immovable assets worth approximately ₹65 crore were attached. A prosecution complaint was filed on March 20, 2023, followed by a supplementary complaint on July 7, 2025. Charges have since been framed against all 90 accused persons in the case.
In a further order dated December 29, 2025, the Special Judge directed that two immovable properties held in the name of Sanasam Jacky Singh—a hotel property and a residential flat in Gurugram, Haryana—be auctioned. The court also ordered that the auction proceeds, along with cash recovered from the accused and amounts lying in an ICICI Bank account, be distributed among the claimants on a pro-rata basis, proportionate to the losses suffered by each investor.
The court has also directed the formation of a verification committee comprising court officials, Enforcement Directorate representatives, and nominees of the claimants to authenticate claims and oversee the restitution process. The ED has been instructed to conduct the auction in accordance with law and assist in determining the losses suffered by each claimant, including applicable interest.
The process of auction, verification of claims, and distribution of funds will be carried out in due course as per legal procedures, the court said.
