Imphal, July 16 (IANS) The Directorate of Enforcement (ED) has filed Supplementary Prosecution Complaint (SPC) against a Manipur based private company, its Director and others under the provisions of Prevention of Money Laundering Act (PMLA), 2002 in relation to cheating of 5,000 investors, officials said on Wednesday.

The ED’s Imphal Sub Zonal office filed SPC against M/s Birla Emporium Pvt Ltd and its Director Yumnan Irabanta Singh and others under the provisions of PMLA, 2002 in relation to cheating of 5,000 gullible investors. ED initiated investigation on the basis of FIRs registered by the CID (Crime Branch), Manipur under various sections of Indian Penal Code (IPC), 1860 against Singh, Director of M/s Birla Emporium Pvt. Ltd. and M/s Ira Finance Pvt. Ltd, an official statement said.

Through the FIRs it was alleged that during the period from 2019 to 2021, Singh was operating a fraudulent investment/deposit scheme, promising investors high returns but finally he and his associates had siphoned off several individual depositors funds.

The statement said that the ED investigation revealed that Singh and his entities were operating an unauthorised deposit scheme by collecting huge amounts of money from the public with promise of exorbitant returns.

Singh along with his associates has cheated approximately 5,000 investors of Manipur and thereby caused wrongful loss to these gullible depositors to the tune of more than Rs 250 crore and subsequent wrongful gain to himself.

It has been also revealed that the M/s Birla Emporium Private Limited and M/s Ira Finance Private Limited have given loans to public/borrower against the security of their property (Loan Against Property) and the properties of the loanees were transferred and registered in the name of Directors and staff of M/s. Birla Emporium Private Limited by executing sale deed.

The company closed its door to the depositors in the first quarter of 2020 without returning the promised funds to them. The properties which were registered in the name of the promoters were also kept under their custody without returning them.

Further these funds which are Proceeds of Crime (POC) were subsequently utilised in acquisition of several properties, the statement added. ED, Imphal Sub Zonal office during the course of investigation identified 85 immovable properties registered in the name of M/s Birla Emporium Pvt. Ltd., Yumnam Irabanta Singh, Director of the company and his associates which were obtained out of POC.

In this regard, the movable and immovable properties in the name of M/s Birla Emporium Pvt Ltd, Its Director Yumnan Irabanta Singh and others amounting to Rs 28.02 crore were provisionally attached.

Further, Prosecution Complaint for confiscation of attached properties was filed before the Special PMLA Court on June 6, 2025 against M/s Birla Emporium Pvt. Ltd and its Director Yumnam Irabanta Singh and others. Further investigation is under progress, the ED said.

–IANS

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