Investigation revealed that Birla Emporium and Ira Finance, controlled by Yumnam Irabanta Singh along with his associates, operated an unregulated deposit scheme - functioning like a bank/NBFC without any registration from the RBI, SEBI or the State authorities.
FinTech BizNews Service
Mumbai, 28 June 2026: Directorate of Enforcement (ED), Imphal Sub-Zonal Office, has provisionally attached 13 immovable properties valued at Rs. 3.92 Crore (approx.) under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, in the case relating to M/s Birla Emporium Pvt. Ltd. and M/s Ira Finance Pvt. Ltd. The properties, located across Thoubal, Imphal East and Imphal West districts of Manipur, stand registered in the name of the company through its staff and associated persons. ED initiated investigation on the basis of FIR registered by the CID (Crime Branch), Imphal, under Sections 420 and 120-B IPC, 1860 which are scheduled offences under PMLA, 2002.
Investigation revealed that M/s Birla Emporium Pvt. Ltd. and M/s Ira Finance Pvt. Ltd., controlled by Yumnam Irabanta Singh along with his associates, operated an unauthorised and unregulated deposit scheme - functioning like a bank/NBFC without any registration from the RBI, SEBI or the State authorities. The entities allegedly collected about Rs. 253 Crore from around 5,511 investors by promising exorbitant monthly returns of 3-5%, advanced roughly Rs. 100 Crore as loans against property, and diverted the proceeds into properties, stock-market and forex investments.
To secure the loans, properties of borrowers were transferred by sale deed into the names of the directors and staff, who hold no genuine claim over them. With the present action, ED has so far attached 219 immovable properties valued at about Rs. 65.5 Crore in this case (206 properties worth approx. Rs. 61.6 Crore having earlier been attached vide PAO Nos. 02/2025 and 05/2025, both since confirmed by the Adjudicating Authority, PMLA). A Prosecution Complaint was filed before the Hon'ble Special PMLA Court, Imphal, on 06.06.2025, and cognizance was taken on 18.08.2025. Further investigation is under progress.
