Has the ED Started the Restitution Process for Rs 63.52 Crore of Confiscated Properties of Lamjingba Finance?
Click to start listening
Synopsis
In a significant development, the ED has initiated the restitution process for Rs 63.52 crore in properties linked to Lamjingba Finance, following a court order. Approximately 5000 investors affected by the fraudulent scheme are set to receive their claims. The investigation into the scandal continues as the agency takes further action.
Key Takeaways
- ED initiates restitution for Rs 63.52 crore
- Approximately 5000 investors involved
- Fraudulent investment scheme uncovered
- Sanam Jacky Singh arrested
- Further investigations ongoing
New Delhi/Imphal, July 19 (NationPress) The Directorate of Enforcement (ED) has officially commenced the restitution process for properties confiscated in the Lamjingba Finance case, amounting to Rs 63.52 crore, following a directive from the Special Court (PMLA), Imphal East, as announced by the central agency on Saturday.
The ED's Imphal Sub Zonal has initiated the restitution efforts after receiving the court's order on July 15.
According to the PMLA court's order, claims from around 5000 deceived investors have been documented for restoration from the attached properties, through auctioning and returning them to the rightful owners, as stated in an official release.
The ED has also lodged a supplementary prosecution complaint with the Special Court (PMLA) seeking the confiscation of Rs 1.87 crore in both movable and immovable properties that had been previously attached.
The investigation was triggered by seven FIRs filed by the Manipur Police against Sanam Jacky Singh and other officials from the Lamjingba Group of Companies.
Findings from the ED's investigation indicated that the Lamjingba Group, under the leadership of Sanasam Jacky Singh, was engaged in a fraudulent “investment/deposit scheme,” luring investors with promises of high returns, leading to significant financial loss for many unsuspecting individuals. These illicit funds were utilized to acquire multiple properties. The agency confirmed that Sanasam Jacky Singh was arrested, and his assets were seized.
A prosecution complaint was submitted on March 20, 2023, to the Special Court (PMLA) against Sanasam Jacky Singh, M. Robindro Singh, and other entities of the Lamjingba group. The ED also requested the confiscation of properties valued at Rs 63.52 crore.
The statement revealed that charges have been framed against the accused. Previously, 60 investors had petitioned the Special Court (PMLA), Imphal East, seeking the restoration of the attached properties.
On March 21, 2025, the Court (PMLA), Imphal East, ordered the publication of notices in two newspapers to solicit claims from interested parties for the restitution of attached properties, in accordance with section 3(A) of the Prevention of Money Laundering (Restoration of Property) Rules, 2016, and the notice was subsequently released.
As a result, nearly 5000 investors have filed their claims with the court. Further investigations are ongoing, the ED noted.
Additionally, the ED has filed a Supplementary Prosecution Complaint (SPC) against another private company based in Manipur, its Director, and others under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, concerning the cheating of 5,000 investors.
In an earlier statement, the Imphal Sub Zonal office of the central agency submitted an SPC against M/s Birla Emporium Pvt Ltd and its Director Yumnan Irabanta Singh and others under the provisions of the PMLA, 2002, regarding the deceit of 5,000 gullible investors.
The ED's investigation was initiated based on FIRs filed by the CID (Crime Branch), Manipur, against Singh, Director of M/s Birla Emporium Pvt. Ltd., and M/s Ira Finance Pvt. Ltd., under various sections of the Indian Penal Code (IPC), 1860.
Point of View
The ED's actions demonstrate a commitment to upholding justice and restoring the rights of deceived investors. The agency's ongoing investigations into fraudulent schemes highlight the importance of regulatory oversight in protecting citizens from financial malfeasance.
NationPress
19/07/2025
Frequently Asked Questions
What is the total amount involved in the Lamjingba Finance case?
The total amount involved in the Lamjingba Finance case is Rs 63.52 crore.
How many investors are impacted by the Lamjingba Finance scheme?
Approximately 5000 investors have been impacted by the Lamjingba Finance scheme.
What actions has the ED taken in this case?
The ED has initiated the restitution process for confiscated properties and filed supplementary prosecution complaints against involved parties.
Who is the key individual associated with Lamjingba Finance?
Sanam Jacky Singh is the key individual associated with Lamjingba Finance.
What is the Prevention of Money Laundering Act (PMLA)?
The PMLA is a law enacted to prevent money laundering and to provide for the confiscation of properties obtained through illegal means.
