Dimapur: The Enforcement Directorate (ED) on Tuesday carried out simultaneous searches across Nagaland, Assam and Tamil Nadu as part of an investigation into suspected illegal financial transactions linked to human hair exports, officials said.
The operation was initiated by the ED’s Dimapur office and marked the first such action undertaken under the Foreign Exchange Management Act (FEMA) by the agency’s Nagaland unit.
According to officials, searches were conducted at two locations each in Dimapur and Guwahati, and at three premises in Chennai. The probe focuses on alleged violations of foreign exchange regulations involving funds generated through the export of human hair.
The investigation, officials said, involves a person identified as Lima Imsong and several others.
According to the Enforcement Directorate, a firm named Imsong Global Suppliers Co., a sole proprietorship owned by Lima Imsong, allegedly received foreign remittances under the pretext of exporting human hair — an activity described by the agency as uncommon and commercially unviable in Dimapur.
Despite repeated reminders and the passage of considerable time, the company reportedly failed to submit mandatory export-related documents, including shipping bills and invoices, to the authorised dealer bank within the prescribed period, the officials said.
The ED noted that the non-fulfilment of export obligations and concealment of documentation amounted to violations of the Foreign Exchange Management Act (FEMA) and Reserve Bank of India (RBI) regulations.
Investigators further found that the foreign remittances credited to the company’s account were subsequently diverted to InchemIndia Pvt. Ltd. as well as to the personal bank accounts of Lima Imsong and his family members, the officials added.
Officials said Inchem India Private Limited is “owned and controlled” by Lima Imsong.
According to the Enforcement Directorate, the company had remained dormant until the period when Imsong began receiving foreign inward remittances. During this time, it reported losses and appeared to function merely as a paper entity, the probe revealed.
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The agency further alleged that funds credited to Inchem India Pvt. Ltd.’s bank account were subsequently diverted to certain suspicious entities involved in the human hair trade in Chennai. The investigation into the financial trail is currently underway, officials added.
