IMPHAL, Jan 2: 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 a press release issued on January 1, 2026, the case pertains to the alleged cheating of around 5,000 investors in Manipur. The ED initiated its probe based on an FIR registered by the CID (Crime Branch), Manipur, under provisions of the Indian Penal Code, 1860, against Yumnam Irabanta Singh, director of both companies.
The FIR alleged that between 2019 and 2021, Singh operated an unauthorised and fraudulent investment and deposit scheme through his firms, luring investors with promises of exorbitant returns. After collecting substantial sums from the public, the companies allegedly failed to return the deposited amounts. The ED said the scheme caused wrongful losses to investors amounting to over Rs 2.50 crore, while generating corresponding wrongful gains for the accused.
The investigation further revealed that the companies also provided loans to the public under a Loan Against Property (LAP) model. However, borrower properties were allegedly transferred and registered through sale deeds in the names of directors and staff of M/s Birla Emporium Pvt Ltd. The companies reportedly shut down operations in early 2020 without repaying depositors, while properties registered in the names of promoters were allegedly retained without repayment. The proceeds of crime were subsequently used to acquire multiple properties.
Earlier, the ED had provisionally attached movable and immovable assets 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 these 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, 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 under the second PAO.
With the latest attachment, 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 in the matter is ongoing.
