The ED investigation is based on a first information report registered at the Lamphel police station in Imphal West, Manipur against Yambem Biren and Narengbam Samarjit, the self-styled “Minister for External Affairs and Defense of the Manipur State Council”. File | Photo credit: The Hindu
The Enforcement Directorate (ED) has provisionally attached assets worth ₹ 50.80 crore relating to Salai group companies, SMART Society and associated entities in a case allegedly linked to self-styled ‘Manipur State Council Chief Minister’ Yamba Biren and others.
The attached properties include bank account balances, land and buildings and industrial and commercial units of rice and flour mills, edible oil refineries, mushroom factories, emu/fish farms and gym equipment in the name of various Salai group companies, the ED said.
The ED investigation is based on a first information report registered at the Lamphel police station in Imphal West, Manipur against Yambem Biren and Narengbam Samarjit, the self-styled “Minister for External Affairs and Defense of the Manipur State Council”. They face charges of waging war against the state, sedition, promoting disharmony, enmity or feeling of hatred between different groups, etc., when they declared Manipur’s independence from the Indian Union at a press conference in London in 2019.
The National Investigation Agency has indicted the accused and others for allegedly fraudulently collecting public money through the Salai Group and its affiliate SMART Society by promising 36% annual returns without any legal authority or license. “They laundered these funds through 19 group companies and used the money for illegal activities, including secessionist operations,” the ED said.
Salai Financial Services (SAFFINS) was registered under the Bombay Money-Lenders Act. It was only authorized to lend money and not accept deposits. However, the accused misused the registration to collect deposits from the public and operated as a bank/non-banking finance company without the permission of the Reserve Bank of India.
“The funds raised were channeled through the accounts of Salai Group directors and companies and laundered through business investments and real estate,” it said.
Subsequently, the Central Bureau of Investigation registered a case on March 15, 2023, alleging an illegal Ponzi/money laundering scheme. On 9 November 2024, she filed a chargesheet stating that ₹46.43 crore was allegedly collected from the public and deposited in the bank accounts of the accused and related entities.
According to the ED, around ₹11.26 crore in the bank account of Salai Mart Private Limited and around ₹2.32 crore in the bank account of Salai Agri Consortium Private Limited were provisionally frozen during the investigation, which was later confirmed by the adjudicating authority under the Prevention of Money Laundering Act. The agency also filed a criminal complaint.
The ED found that the proceeds of the alleged crime were channeled through the bank accounts of Salai Group entities and directors. They were used for business expenses, property acquisitions, foreign remittances for machinery purchases, customs and income tax payments, directors’ foreign travel expenses, credit card payments and cash withdrawals through employees. Some of the cash was also invested in real estate, it was claimed.
The agency has identified 28 immovable properties and five movable properties in the names of Salai Group, SMART Society and associated revenue entities. “In this regard, the said properties amounting to ₹ 50.80 crore have been provisionally attached,” the official said, adding that the total value of the attached assets in the case is now about ₹ 53.22 crore.
Published – 16 March 2026 20:51 IST
