The Directorate of Enforcement has submitted a Supplementary Prosecution Complaint against M/s Birla Emporium Pvt Ltd and its Director Yumnan Irabanta Singh under the Prevention of Money Laundering Act, 2002, concerning the defrauding of 5,000 investors. The inquiry was initiated following FIRs lodged by the CID under various provisions of the Indian Penal Code, 1860. The investigation uncovered that Singh and his entities were running an unauthorized deposit scheme, amassing substantial sums of money from the public with assurances of excessive returns. Singh and his associates deceived approximately 5,000 investors from Manipur, resulting in a wrongful loss exceeding Rs 250 crore and an ensuing wrongful gain for himself. The company ceased operations for depositors in the first quarter of 2020 without refunding the promised funds, and the properties registered under the promoters’ names were retained in their possession without restitution. Proceeds of Crime were later utilized for the acquisition of multiple properties. A Prosecution Complaint for the confiscation of the attached properties was presented to the Special PMLA Court on June 6, 2025. Further investigations are ongoing.
ED has filed supplementary chargesheet against Manipur firm for allegedly deceiving 5,000 investors
