Imphal, 1 January: The Enforcement Directorate (ED) Imphal sub-zonal office has registered a fraud case against Birla Emporium Private Limited, Ira Finance Private Limited, and their director Yumnam Irabanta Singh. A second provisional attachment order worth Rs 33.66 crore has been issued in connection with a serious fraud involving over 5,000 innocent investors.
This action has been taken under the Prevention of Money Laundering Act (PMLA), 2002, bringing the total attached assets to Rs 61.68 crore. The ED initiated the investigation based on the First Information Report (FIR) filed by the Crime Branch (CID), Manipur.
The FIR alleges that between 2019 and 2021, Yumnam Irabanta Singh operated an unauthorised deposit/investment scheme by luring investors with promises of high returns. Over Rs 250 crore was collected from around 5,000 investors in Manipur, but no returns were paid. The accused misappropriated the funds for personal gain.
During the investigation, it was revealed that the companies pretended to provide loans against property. However, the properties of borrowers were transferred to the directors and employees of the companies through sale deeds. From the first quarter of 2020, the companies closed their doors to investors without returning funds. The proceeds from the crime were used to acquire several new assets.
In the first phase, the ED attached movable and immovable assets worth Rs 28.02 crore. On 6 June 2025, the Special PMLA Court in Imphal East initiated the process of confiscating these properties by filing a prosecution complaint. So far, 121 additional immovable properties registered in the names of the companies, Yumnam Irabanta Singh, and his associates have been identified. These properties valued at Rs 33.66 crore have now been provisionally attached.
The ED has stated that the investigation will continue to identify other possible assets and accomplices involved in this case.
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Daily Kiran
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