The Directorate for Enforcement of Law (ED) made a search in six premises associated with entrepreneur Manavinder Singh, his wife Sagri Singh and related entities or persons in a group based in Delhi under the Foreign Proceedings Act (FEMA) said on Sunday (September 21, 2025).
The premises are located in Delhi and Himachal Pradesh. Searching for alleged unpublished assets held outside India, worth about 80 GBP Crore, in Singapore, Dubai, the British Virgin Islands and Thailand.
“The Imperial Group is a group of companies that operate in the aerospace and real estate sectors and chaired by Manavinder Singh. Auramah Valley Luxury Residential Project based in Naldhedra, Himachal Pradesh is also part of the above group and is owned by Manavinder Singh.”
He found that “Unconducting financial interest in Aerostar Venture PTE LTD based in Singapore, where Manavinder Singh and Sagri Singh are beneficial owners and Manavinder Singh is the only director,” Ed said.
“United Aerospace DWC LLC, based in Dubai, where the Manavinder Singh and Sagri Singh are beneficial owners, and Manavinder Singh is the only director,” were also reportedly detected.
“Furthermore, it has been revealed that a complex network of transactions with United Aerospace DWC LLC, Dubai and unsecured loans in CRORY INR (Indian Rupees) proceeds to / pays in CRORECH INR, said for Manavinder Singh, Sagri Singh, and related Indian entities,” Ed said.
Ed claimed that a helicopter (Robinson 66) worth 7 Crore was purchased by United Aerospace DWC LLC in May 2025 by allegedly using an unsecured loan from an “unnamed subject in Hong Kong”.
He argued that the helicopter was imported to India for the residents of the Auramah Valley project through an arrangement in which the lease of payments from this Indian residential project went back to Dubai United Aerospace, which led to the accumulation of even more foreign assets.
“Furthermore, it was also discovered during search operations that this entity based on Dubai based on 31.
The agency also claimed that there were unpublished foreign assets/financial interests in companies based in the British Virgin Islands and Bank Accounts in Singapore, where “Manavinder Singh and Sagri Singh are beneficial owners”.
The agency claimed that the courage of selling parts for the Auramah Valley project was received in cash, which is about 29 GBP Crore, which was further probed. ED suspected that there was a round tripping of funds using “unpublished financial interests in foreign companies, which are eventually controlled and managed by Manavinder Singh/Sagri Singh”.
Published – September 2025 20:29
