Imphal | The Enforcement Directorate (ED), Imphal Sub-Regional Office, has issued an interim attachment order (PAO) on immovable assets worth ₹3,366 crore in connection with investment fraud cases involving M/s Birla Emporium Private Limited, M/s Ira Finance Private Limited, their director Yumnan Irabanta Singh, and others, affecting 5,000 investors.
The action follows an investigation initiated on the basis of FIRs registered under IPC, 1860, at various police stations in Manipur. According to the FIRs, between 2019 and 2021, Yumnan Irabanta Singh operated a fraudulent investment scheme, promising investors unusually high returns. In reality, the accused and their associates misappropriated the investors’ funds for personal gain.
Final Call: FCRF Opens Last Registration Window for GRC and DPO Certifications
Modus Operandi and Investor Losses
The investigation revealed that Yumnan Irabanta Singh and his companies were running unauthorized deposit schemes, luring the public with promises of high returns. Through these operations, approximately 5,000 investors suffered financial losses exceeding ₹250 crore.
Further, it was discovered that Birla Emporium Pvt. Ltd. and Ira Finance Pvt. Ltd. provided loans to investors against assets, but subsequently transferred and registered these assets in the names of directors and employees, depriving investors of their promised funds. The companies closed their operations from the first quarter of 2020, without returning the invested money. Assets registered in the promoters’ names were also retained unlawfully. The misappropriated funds were later used for acquisition of multiple other properties, establishing a network of illicit financial gains.
Attached Assets and Legal Process
Previously, ED had identified and provisionally attached movable and immovable properties worth ₹28.02 crore in the names of Birla Emporium Pvt. Ltd., Yumnan Irabanta Singh, and associates.
Subsequently, on 6 June 2025, a prosecution complaint was filed before the Hon’ble Special PMLA Court, Imphal, seeking attachment of additional assets. Investigations identified 121 more immovable properties registered in the names of Birla Emporium Pvt. Ltd., Ira Finance Pvt. Ltd., Yumnan Irabanta Singh, and other associates.
The total value of these immovable properties is estimated at ₹3,366 crore, which have now been provisionally attached. Combined with previously attached assets, the total attached movable and immovable properties under investigation now amount to ₹6,184 crore.
Ongoing Investigation and Enforcement Actions
ED has clarified that the investigation is still in progress. The agency is currently:
- Tracing other domestic and international assets of the accused,
- Examining the roles of associated companies and individuals,
- And analyzing the use of illicit funds and the wider criminal network.
The investigation is also focusing on how investors’ funds were misused under the pretext of high-return schemes and how multiple properties were acquired using misappropriated money.
About the author — Suvedita Nath is a science student with a growing interest in cybercrime and digital safety. She writes on online activity, cyber threats, and technology-driven risks. Her work focuses on clarity, accuracy, and public awareness.
