The Directorate of Enforcement (ED) carried out searches at six locations in Himachal Pradesh and Delhi in connection with an ongoing investigation into the Imperial Group, a Delhi-based realty and aerospace conglomerate. The searches targeted properties linked to Manavinder Singh, chairman of the Imperial Group, his wife Sagri Singh, and associated individuals, according to an official ED statement.
The probe, conducted under the Foreign Exchange Management Act (FEMA), 1999, focuses on alleged undisclosed foreign assets, investments, and financial interests held outside India by the group’s promoters and companies. Officials reported that the estimated value of undeclared foreign holdings, including assets in Dubai, Thailand, and bank accounts in Singapore, Dubai, the British Virgin Islands, and Thailand, exceeds ₹80 crore.
The Imperial Group operates multiple businesses, including the Auramah Valley luxury residential project in Naldehra, Himachal Pradesh. During the searches, ED officials uncovered evidence of undeclared foreign accounts and seized records and documentation related to overseas investments. Investigators also revealed that a portion of the sale proceeds from Auramah Valley flats was being received in cash. Parallel accounts indicated ₹29 crore had already been collected through this method. Additionally, the enforcement agency seized cash worth ₹50 lakh and USD 14,700 during the operation.
The ED’s actions highlight ongoing scrutiny of real estate transactions and overseas financial dealings to ensure compliance with FEMA regulations. Officials emphasized that such investigations are critical to identifying undisclosed assets, preventing money laundering, and maintaining transparency in high-value property dealings.
The Imperial Group’s business portfolio includes high-value residential projects, which have drawn attention due to the scale of transactions and cross-border financial activity. Authorities continue to examine the financial records of the group and its promoters to establish the source and destination of funds, including overseas holdings.
Image source- enforcementdirectorate.gov.in
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