Shimla
The Enforcement Directorate (ED) in Shimla has gathered crucial evidence during two consecutive days of raids under FEMA 1999 at six premises in Himachal and Delhi belonging to Manvinder Singh, his wife Sagar Singh, and individuals and entities associated with the Delhi-based Imperial Group. During the searches, various incriminating documents, digital evidence, approximately ₹50 lakh in Indian currency (500 rupee notes), foreign currency, evidence related to undisclosed financial interests and assets, and bank accounts (including foreign bank account passbooks) in the name of Manvinder Singh located in Singapore, Dubai, the British Virgin Islands, and Thailand, estimated to be worth over ₹80 crore, were seized. Three lockers have also been frozen.
Sources indicate that the ED has recovered significant evidence of cash transactions from a project in Naldehra, Shimla, during the raid. However, the investigation is still ongoing, and it is expected that more significant revelations may emerge in the coming days. According to sources, Manvinder Singh and his wife have made anonymous investments in several companies and properties abroad. The related properties and bank accounts are located in Singapore, Dubai, the British Virgin Islands, and Thailand.
The ED also questioned several individuals on Sunday to get to the bottom of the matter. It is reported that the investigation team also recorded statements from Manvinder Singh and his wife. This interrogation process was conducted at the ED’s Shimla office. Additionally, the process of scrutinizing documents and other records seized during the raid has also begun.
Investigating Financial Transactions
To unravel the entire matter, the ED is also investigating the project’s financial transactions, money laundering, foreign investment, and other channels. Consequently, legal action may be taken against the real estate project’s operators in the coming days.
