Himachal Pradesh: Heavy allegations about the imperial group in Ed Raid, unannounced foreign assets worth more than 80 crores have unveiled

Shimla, September 21 (IANS). The Directorate for Enforcement (ED) performed a ramp in six places in Himachal Pradesh and Delhi on September 19 and 20. The action is aimed at the chairman of the Imperial Group, Manvinder Singh, his wife Sagari Singh and the group -related companies/persons. The investigation, which began under the Currency Management Act (FEMA), 1999, revealed unknown foreign assets, investment and financial interests. The ED registered a case on the basis of intelligence, which suspected the irregularities of the group. The Imperial Group is a group of companies active in aviation and real estate areas, which is the chairman of Manvinder Singh. The luxury residential project ‘Aurma Valley’ in Naldehra in Himachal is also part of this group. During the search, the ED grabbed that proof of unexplained interests in foreign enterprises in the name of Manvinder and Sagri Singh. This includes Singapore’s ‘Aerosar Venture Private Limited’ and Dubai’s ‘United Aerospace DWC LLC’, where both are beneficial owners. Manfinder is the only director. Unsecured loans of crores of rupees were given by Dubai Company, returned to Indian institutions. In May 2025, the company bought a ‘Robinson 66’ helicopter with a loan of Rs 7 crore from an anonymous organization in Hong Kong, which was imported for the residents of Aurma Valley to India. The rental payment is back to the Dubai company, which increases the unexplained property. By March 31, 2025, this company recorded assets worth Rs 38 crore. In addition, the purchase of a villa called ‘Villa Adara’ (more than Rs 16 Crore) was revealed in Koh Samui, Thailand, where the SingH couple and the family are beneficiaries. Unknown interests were also found in businesses in the British Virgin Islands and Bank Accounts in Singapore. According to ED estimates, the total value of these foreign assets/interests/accounts is more than Rs 80 crore. The search and shocking facts came out on the Varma Valley campus of Himachal. Parallel books showed that Rs 29 crore cash was charged for the sale of apartments. The ED suspects that this cash is sent abroad by Hawala or in other ways, after which unannounced assets are purchased or ’round tripping’ (bringing money abroad). This process seems to be a medium for the money generated by the real estate activities of the imperial group. -Ians Sch Share This Story Tags