ED Attaches Assets Worth Rs 33.66 Crore in Manipur Investment Fraud Case

Imphal: The Directorate of Enforcement (ED) has issued a second provisional attachment order worth Rs 33.66 crore in a major investment fraud case linked to Birla Emporium Pvt Ltd, Ira Finance Pvt Ltd and their director, Yumnam Irabanta Singh, in Manipur.

In a statement, the ED said the attached assets were created using proceeds of crime by cheating nearly 5,000 investors across the state.

With this action, the total value of properties attached in the case has risen to Rs 61.68 crore.

The probe was launched after FIRs were registered by the Manipur Crime Investigation Department against Singh under various sections of the IPC.

The FIRs allege that between 2019 and 2021, Singh and his associates ran a fraudulent investment and deposit scheme by promising very high returns.

Investigators found that the companies were running an unauthorised deposit scheme and collected large sums from the public.

The money was allegedly diverted instead of being returned, causing losses of over Rs 250 crore to investors, the ED said.

The agency said the scheme targeted around 5,000 depositors in Manipur.

The companies are also accused of offering loans against property and later transferring the properties to the names of directors and staff through sale deeds. These properties were allegedly kept without returning the money or restoring ownership to the borrowers.

The ED said the firms shut down operations in early 2020 and closed their offices without paying investors. The funds collected were allegedly used to buy more assets in the names of promoters and associates.

Earlier, the ED had attached properties worth Rs 28.02 crore in the same case. A prosecution complaint was filed before the Special PMLA Court in Imphal East on June 6, 2025.

Further investigation led to the identification of 121 more immovable properties valued at Rs 33.66 crore.

These have now been provisionally attached.

The ED said the investigation is continuing and further action will follow.

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