ED attaches assets worth Rs 33.66 crore in Manipur investment fraud case; total attachments touch Rs 61.68 crore

The Directorate of Enforcement (ED), Imphal Sub-Zonal Office, has issued a second Provisional Attachment Order (PAO) attaching assets worth Rs 33.66 crore in connection with an alleged large-scale investment fraud involving M/s Birla Emporium Pvt Ltd, M/s Ira Finance Pvt Ltd and their director Yumnam Irabanta Singh.

According to an official press release issued on January 1, 2026, the attachment relates to a case of alleged cheating of around 5,000 investors in Manipur. The ED initiated its investigation based on an FIR registered by the CID (Crime Branch), Manipur, under Sections of the IPC, including Section 1860, against Yumnam Irabanta Singh, director of M/s Birla Emporium Pvt Ltd and M/s Ira Finance Pvt Ltd.

The FIR alleged that between 2019 and 2021, Yumnam Irabanta Singh operated a fraudulent investment and deposit scheme through his companies, promising investors exorbitant returns. However, after collecting substantial amounts of money from the public, the companies allegedly failed to return the deposited funds. The ED said the scheme was unauthorised and resulted in wrongful losses to investors amounting to more than Rs 2.50 crore, while generating corresponding wrongful gains for the accused.

Investigations further revealed that the companies also provided loans to the public against property under the Loan Against Property (LAP) model. However, properties of borrowers were allegedly transferred and registered in the names of directors and staff of M/s Birla Emporium Pvt Ltd through sale deeds. The companies reportedly shut down operations in early 2020 without returning the promised funds to depositors. Properties registered in the names of promoters were also allegedly retained without repayment, and the proceeds of crime were subsequently utilised for acquiring multiple properties.

The ED stated that it had earlier provisionally attached movable and immovable properties worth Rs 28.02 crore in the names of M/s Birla Emporium Pvt Ltd, Yumnam Irabanta Singh and his associates. A prosecution complaint seeking confiscation of the attached assets was filed before the Special PMLA Court, Imphal East, on June 6, 2025.

Further investigation led to the identification of 121 additional immovable properties registered in the names of M/s Birla Emporium Pvt Ltd, M/s Ira Finance Pvt Ltd, Yumnam Irabanta Singh and his associates, which were found to have been acquired from the proceeds of crime. These properties, valued at Rs 33.66 crore, have now been provisionally attached.

With the latest order, the total value of movable and immovable properties provisionally attached in the case has risen to Rs 61.68 crore. The ED said further investigation into the matter is ongoing.