Imphal: The Enforcement Directorate (ED) has issued a second provisional attachment order, seizing assets worth Rs 33.66 crore in connection with an alleged investment fraud in Manipur that is estimated to have cheated nearly 5,000 investors, officials said.
The attachment was carried out by the ED’s Imphal sub-zonal office against M/s Birla Emporium Pvt. Ltd., M/s Ira Finance Pvt. Ltd., their director Yumnam Irabanta Singh, and others.
The case pertains to an alleged unauthorised deposit scheme that operated between 2019 and 2021.
The ED launched its probe based on FIRs registered by the CID (Crime Branch), Manipur, under various provisions of the Indian Penal Code against Singh, who is the director of both companies.
Investigators allege that Singh and his associates lured investors with promises of unusually high returns, collected large sums of money from the public and later siphoned off the funds.
According to the agency, the accused cheated around 5,000 investors in the state, causing an estimated wrongful loss of over Rs 250 crore to depositors while generating corresponding illegal gains for themselves.
The ED said its investigation revealed that the companies were running an unauthorised deposit scheme and had also extended loans against property to borrowers.
In several cases, properties offered as collateral were allegedly transferred and registered in the names of company directors and staff through sale deeds.
Officials said the companies shut operations in the first quarter of 2020 without returning investors’ money, while properties registered in the promoters’ names remained under their control.
ALSO READ: Assam to install Rs 500 crore proton therapy machine for cancer treatment: Himanta
The proceeds of crime were subsequently used to acquire multiple movable and immovable assets.
Earlier, the ED had provisionally attached assets worth Rs 28.02 crore in the names of Birla Emporium Pvt. Ltd., Yumnam Irabanta Singh and his associates.
A prosecution complaint seeking confiscation of the attached properties was filed before the Special PMLA court in Imphal East on June 6, 2025.
Further investigation led to the identification of 121 additional immovable properties allegedly acquired using proceeds of crime.
These properties, valued at Rs 33.66 crore, have now been provisionally attached.
With the latest action, the total value of assets attached so far in the case stands at Rs 61.68 crore. The ED said further investigation is underway.
