Imphal: Responding to a petition filed by 60 investors, the Special Judge under the Prevention of Money Laundering Act (PMLA), 2002, Imphal, has ordered the auction of immovable properties belonging to the Lamjingba Finance Group of Companies and directed that the sale proceeds be restored to the claimants, Enforcement Directorate (ED) sources said on Thursday.
The central probe agency sources said that in a case initiated by one Wahengbam Pratap Singh and 59 others, the Special Judge (PMLA), Imphal, ordered the auction of immovable property and directed that the proceeds be restored to the claimants.
The application was submitted by investors of Lamjingba Finance Group Companies who had been defrauded by the company.
The petitioners, being claimants and victims of a fraudulent scheme floated by Lamjingba Finance Group Companies, requested restitution from the proceeds of auctions of the properties seized and attached by the ED in the case of Lamjingba Finance Group of Companies.
The ED, Imphal Sub-Zonal office, is listed as a respondent in the petition. The ED in its prosecution complaint mentioned that Lamjingba Group of Companies headed by accused Sanasam Jacky Singh and others were operating a fraudulent “investment/deposit scheme”, that promised investors very high returns and as a result, cheated numerous gullible investors.
Earlier in this case, the Special Court (PMLA), Imphal East passed an order on March 21, 2025 directing claimants/applicants for publication of notice in two newspapers having statewide publication, one in vernacular language and another in English for inviting claims from interested persons for restoration of attached properties under the Prevention of Money Laundering (Restoration of Property) Rules, 2016 and the same was published.
The claims of approximately 4,391 claimants and depositors have been taken on record by the Court for restoration of attached properties, through auctioning and restoring the same to them.
Sanasam Jacky Singh, the main accused in this case, is Chairperson-cum-Managing Director of Lamjingba Finance Pvt. Ltd. and other Lamjingba Group Companies.
In this case, based on the 7 FIRs registered by Manipur Police, the ED initiated an investigation under the provisions of the PMLA, 2002.
During the course of investigation, movable and immovable properties to the tune of Rs 65 crore (approximately) have been attached, and a prosecution complaint was filed on March 20, 2023 before the Court of Special Judge (PMLA), Imphal East, Manipur, against Sanasam Jacky Singh, Lamjingba Group Companies and others.
Further, a supplementary complaint dated July 7, 2025 has also been filed against Sanasam Jacky Singh, Lamjingba Group Companies, and others.
The ED in the complaint also prayed for confiscation of the attached properties. Charges have been framed against all 9 accused in the case under order dated March 30, 2024.
Further, the Special Judge (PMLA), Imphal East, on December 29, 2025, directed that the immovable properties held in the name of Sanasam Jacky Singh comprising a hotel property and a residential flat in Gurugram (Haryana) which were attached by the ED, be auctioned.
The Court further ordered that the proceeds realised from the auction, along with the amounts lying in the ICICI Bank account of Sanasam Jacky Singh and the cash recovered from his possession, be distributed among the claimants in accordance with Rule 3A, — “on a pro rata basis in proportion to the loss suffered by each claimant”, upon the execution of a bond undertaking to produce such restored property before the Special Court as and when required.
Reasonable criteria should be used to determine claimants’ losses, which may include interest received. In this regard, the court further ordered for the formation of a committee to verify the claims/deposits of the applicants.
The committee shall consist of officials of the court (to be nominated by the court), officials of ED (to be nominated by the office concerned of the agency), representatives of claimants (to be nominated by the claimants) and other required stakeholders. The process of auction, verifications of claims and restitution will be done in due course as per law.
(IANS)
