New Delhi, September 21 (IANS) Enforcement (ED) Shimla Office has disclosed a web of unannounced foreign assets and financial interests of more than Rs 80 crore, which is related to Delhi -based businessman Manvinder Singh, his wife Sagri Singh and his royal group, which after the raids and Delhi.
On September 19 and 20, it was discovered in six campuses, with Himachal Pradesh and owned by Valley Luxury Residential Project, Singh.
The Operations were conducted under the Foreign Exchange Management Act (FEMA), 1999, when intelligence inputs pointed to the group’s undisclosed property and offshore holdings.
According to the ED, the evidence seized during operation revealed the financial interests hidden in many offshore institutions.
These include aerostar venture PTE Limited in Singapore and United Aerospace DWC LLC in Dubai, where both Manvinder Singh and Sagari Singh are beneficial owners. The Dubai -based company was allegedly used to carry forward unsecured loans worth crores of rupees for Manvinder Singh and concerned Indian institutions.
It also bought a Robinson 66 helicopter, which was priced at Rs 7 crore, which was imported to India through the arrangement of the Aurisha Valley Project.
By 31 March, 2025, assets worth Rs 38 crore were organized in this unit.
Investigators also discovered a luxury villa, “Villa Samyara” in Koh Samui, Thailand, which cost more than Rs 16 crore, as well as unannounced financial interest in the British Virgin Islands in Singapore and firms in many foreign bank accounts.
“According to the seized financial statements and records related to the above undisclosed foreign institutions and undeclared assets held outside India, records, it is estimated that the value of these unknown foreign financial assets/interests/bank accounts located in Singapore, Dubai, British Virgin Islands and Thailand is more than Rs 80 crore,” said the agency statements.
In the month of Mahi Valley, the agency found parallel books of accounts, suggesting that cash transactions up to Rs 29 crore were obtained as a idea on the sale of parts for flats.
During the discoveries, the ED seized Rs 50 lakh in Indian currency, with an old Rs 50,000 for the old 500 rupees, the foreign currency of $ 14,700, and the three lockers froze. Record and digital evidence have also been recovered.
The ED said that further investigation into the foreign behavior of the Imperial Group is underway.
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SAS/VD