Imphal, June 27: The Enforcement Directorate (ED) has taken significant action against Birla Emporium Private Limited and Ira Finance Private Limited. The ED’s Imphal sub-regional office has temporarily seized 13 properties valued at approximately ₹3.92 crore under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
These properties are located in Thoubal, Imphal East, and Imphal West districts, registered in the names of company employees and associated individuals. The investigation was initiated based on an FIR lodged by the Imphal CID (Crime Branch) under Sections 420 and 120-B of the Indian Penal Code, 1860.
The inquiry revealed that Birla Emporium and Ira Finance, controlled by Yumnaam Irabanta Singh and his associates, were operating an unauthorized and irregular deposit scheme without registration from the RBI, SEBI, or state authorities, functioning similarly to banks or NBFCs.
These entities allegedly collected around ₹253 crore by promising exorbitant monthly returns of 3-5% to approximately 5,511 investors. They provided loans worth about ₹100 crore in exchange for properties and invested the collected funds in real estate, the stock market, and foreign exchange. To secure these loans, the properties of borrowers were transferred to the names of directors and employees through sale deeds.
As part of the current action, the ED has seized a total of 219 properties valued at approximately ₹65.5 crore in this case (with 206 properties worth around ₹61.6 crore previously seized and confirmed by the PMLA adjudicating authority). A prosecution complaint was filed in the special PMLA court in Imphal on June 6, 2025, and was acknowledged on August 18, 2025. Further investigations are ongoing.
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