The Directorate of Enforcement (ED), Imphal Sub-Zonal Office, has issued a second Provisional Attachment Order (PAO) worth ₹33.66 crore against M/s Birla Emporium Pvt. Ltd., M/s Ira Finance Pvt. Ltd., their Director Yumnam Irabanta Singh, and associates in connection with a large-scale deposit scam that cheated around 5,000 investors in Manipur.
Case Background:
- ED initiated the probe based on an FIR filed by CID (Crime Branch), Manipur, under IPC sections against Yumnam Irabanta Singh.
- Between 2019 and 2021, Singh and his companies ran an unauthorized deposit scheme, promising high returns but siphoning off funds for personal gain.
- The fraud caused a loss of over ₹250 crore to investors.
Modus Operandi:
- Collected huge deposits from the public under the guise of investment schemes.
- Issued loans against property and later transferred borrower properties to company directors and staff through sale deeds.
- Closed operations in early 2020 without returning funds or properties.
- Proceeds of Crime were used to acquire multiple assets.
Action Taken:
- Earlier, ED attached properties worth ₹28.02 crore and filed a prosecution complaint before the Special PMLA Court, Imphal East, on 06.06.2025.
- Further investigation identified 121 additional immovable properties worth ₹33.66 crore, now provisionally attached.
- Total attachment so far: ₹61.68 crore (movable and immovable assets).
Investigation is ongoing.
Source: ED Press Release dated 01/01/2026