ED Raids Imperial Group, Seizes Evidence of Un disclosed Foreign Assets Worth Over Rs 80 Crore
The Enforcement Directorate (ED) conducted search operations at six premises linked to Delhi-based Imperial Group chairman Manavinder Singh, uncovering undisclosed foreign assets worth over ₹80 crore. The assets were traced to companies in Singapore, Dubai, and Thailand, raising concerns over financial irregularities.
Enforcement DirectorateUndisclosed AssetsForeign ExchangeReal EstateOffshore AssetsReal EstateSep 21, 2025
According to ED, documents seized reveal Singh and his wife held undeclared financial interests in Aerostar Venture Pte Ltd in Singapore and United Aerospace DWC LLC in Dubai. Both were shown as beneficial owners, with Singh as the sole director. Investigators allege that a web of complex transactions routed through the Dubai company facilitated unsecured loans, salary payments, and the purchase of a Robinson 66 helicopter worth ₹7 crore. The helicopter, imported into India in May 2025, was tied to lease payments from the group’s Auramah Valley luxury housing project in Naldehra, Himachal Pradesh, effectively channeling domestic revenues abroad.
ED said assets worth ₹38 crore were being held by the Dubai entity as of March 31, 2025. In addition, investigators traced a villa in Koh Samui, Thailand, named “Villa Samayra,” valued at over ₹16 crore, and undisclosed interests in companies in the British Virgin Islands along with foreign bank accounts in Singapore.
Parallel books of accounts recovered from the Auramah Valley project indicated cash receipts of ₹29 crore from flat buyers. Officials suspect the funds were moved overseas through hawala and other routes, later round-tripped back via foreign companies controlled by Singh and his wife.
The agency seized around ₹50 lakh in Indian currency, including ₹50,000 in demonetised notes, foreign currency worth USD 14,700, and froze three lockers during the operation. ED said the modus operandi pointed to systematic diversion of real estate proceeds for offshore asset creation, with assets abroad generating revenues that further added to undisclosed wealth.
The Imperial Group, chaired by Singh, operates in the aerospace and real estate sectors. Its flagship Auramah Valley project in Naldehra was among the premises searched.
Frequently Asked Questions
What is the Enforcement Directorate (ED)?
The Enforcement Directorate (ED) is a law enforcement agency in India responsible for enforcing economic laws and combating economic crime. It operates under the Ministry of Finance and has the power to investigate and prosecute cases involving violations of the Foreign Exchange Management Act (FEMA), Prevention of Money Laundering Act (PMLA), and other economic laws.
What were the main findings of the ED during the raids?
The ED found that Manavinder Singh and his wife Sagri Singh held undeclared financial interests in companies in Singapore, Dubai, and Thailand. They also traced a villa in Koh Samui, Thailand, and foreign bank accounts in Singapore. The total value of the undisclosed assets was over ₹80 crore.
How did the ED uncover these financial irregularities?
The ED conducted search operations at six premises linked to the Imperial Group, including the Auramah Valley project in Naldehra, Himachal Pradesh. They seized documents, parallel books of accounts, and financial records that revealed the offshore financial interests and transactions.
What is the Auramah Valley project?
The Auramah Valley is a luxury housing project located in Naldehra, Himachal Pradesh. It is one of the flagship projects of the Imperial Group, chaired by Manavinder Singh. The project has been at the center of the ED's investigation for allegedly channeling domestic revenues abroad.
What actions did the ED take during the operation?
The ED seized around ₹50 lakh in Indian currency, including ₹50,000 in demonetised notes, foreign currency worth USD 14,700, and froze three lockers. They also seized documents and financial records that provided evidence of the financial irregularities and offshore asset creation.
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