Imphal, September 3 (Daily Kiran) : The Enforcement Directorate (ED) has taken significant action against the notorious Salai Group of Companies in Manipur. On September 2, the agency issued a provisional attachment order, seizing assets valued at ₹14.69 crore belonging to the Salai Group, Smart Society, and associated entities. The confiscated assets include land, buildings, machinery, and industrial units.
This investigation was initiated based on a First Information Report (FIR) filed by the Manipur police. The FIR named Yambem Biren, who claimed to be the “Chief Minister of the Manipur State Council,” and Narengbam Samarjeet, who referred to himself as the “Foreign and Defense Minister” of the same council. Both are accused of declaring war against the Indian Union, committing treason, and inciting unrest among different groups.
The National Investigation Agency (NIA) had previously filed a chargesheet against Samarjeet Singh, Y. Biren, and others involved. Investigations revealed that the accused fraudulently collected money from people through Smart Society and the Salai Group without any legal authority or license. They lured investors with promises of annual returns of 36%. The funds were laundered through 19 companies linked to the group and allegedly used to finance separatist activities.
Salai Financial Services (SAFFINS) was registered under the Bombay Money Lenders Act of 1946, which only permitted it to lend money, not accept deposits. The accused misused this registration to operate like a bank or non-banking financial company without the Reserve Bank of India’s approval. The collected funds were funneled through the accounts of directors and group companies. The Central Bureau of Investigation (CBI) has also registered an FIR, labeling it as an illegal Ponzi or money-circulation racket.
The ED estimates that the total earnings from these crimes amount to ₹76.63 crore, which was collected unlawfully from the public. This money was used for business expenses, purchasing assets and machinery, sending money abroad, paying customs duties and income tax, financing directors’ foreign trips, credit card payments, and cash withdrawals by employees.
Earlier, on May 17, 2022, ₹11.26 lakh from Salai Mart Private Limited’s account was attached, followed by ₹2.32 crore from Salai Agri Consortium’s account on November 9, 2022. On March 13, 2026, assets worth ₹50.80 crore, purchased with the proceeds of crime, were also seized. To date, a total of ₹67.92 crore in assets has been confiscated in this case, and the investigation is ongoing.
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