New Delhi, 19 December: The Enforcement Directorate (ED) conducted a major operation targeting the Salai Group in Imphal, Manipur, carrying out raids at five different locations linked to alleged financial crimes and illegal activities.
The searches were conducted at the residences of the Salai Group’s chairman and managing directors. To ensure security during the operation, 30 CRPF personnel were deployed, allowing the raids to be completed peacefully.
During the raids, three cars were seized along with documents related to assets worth approximately Rs 10 crore. Additionally, five mobile phones containing evidence related to the group’s suspicious financial transactions were confiscated.
According to the ED press release, statements were recorded from the accused, who admitted to accepting cash deposits from the public without any legal authority. These funds were deposited into their personal bank accounts and those of Salai Group companies. The investigation revealed that the illegal money was used to purchase movable and immovable assets, repay car loans, cover personal expenses, and for other purposes.
This action by ED is based on a case registered by Manipur Police at Lamphel police station in Imphal West district. The First Information Report (FIR) named Yambem Biren and Narengbam Samarjit, accusing them of waging war against the country, sedition, promoting social disharmony, and inciting separatism. Both allegedly attempted to declare Manipur’s independence from India.
The National Investigation Agency (NIA) has filed charges against N. Samarjit Singh, Y. Biren, and others under IPC sections 120-B, 420, and the Unlawful Activities Prevention Act (UAPA) sections 13 and 17. The charge sheet states that the Salai Group and its associated Smart Society collected money from the public by promising 36% annual returns, which was entirely illegal. The funds were circulated through 19 companies and used for separatist activities and other unlawful purposes.
The Central Bureau of Investigation (CBI) also registered an FIR on 15 March 2023 against the Salai Group and its directors for running an illegal Ponzi scheme. Investigations revealed that large cash deposits were collected under the guise of the Smart Society, with Rs 46.43 crore deposited across various bank accounts.
The ED stated that during its investigation under the PMLA, it found that the accused collected Rs 57.36 crore in cash from the public without any legal authorization, offering a monthly interest of 3%. The funds were deposited in the accused and group companies’ accounts and later spent on properties, home loans, vehicle loans, term loans, personal expenses, and alleged anti-national activities. So far, assets worth Rs 2.42 crore have been confiscated as proceeds of crime, with confirmation from the adjudicating authority. A prosecution complaint was filed in the Special PMLA Court, Imphal East, on 29 April 2024.
The investigation also revealed the use of crime proceeds to purchase machinery and plants, send foreign remittances worth Rs 17.5 crore, pay Rs 2.5 crore towards credit card bills, and repay a vehicle loan of Rs 3.14 crore taken from HDFC Bank, Imphal branch.
The ED press release further stated that the investigation is ongoing.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.