Manipur: NIA arrest MD, board member of Salai Holdings and Smart Society


(By Halley Nongmaithem)


The National Investigation Agency (NIA) has arrested the Managing Director (MD), Narengbam Biswajit Singh and another board member, Elangbam Brojendro of the Salai Holdings and Smart Society on December 3.

Salai Holdings is a micro-finance group that takes deposits from thousands of investors in Manipur in return for a three per cent interest.

It may be mentioned that the Founding Director and Chairman, Narengbam Samarjit Singh had expressed ‘separation of Manipur from the Indian government’ in a press conference at the United Kingdom in 2019, following which the Government had frozen his account.

In 2019, political separatists from Manipur announced an exiled government in the United Kingdom and formed the Manipur State Council based in Central London.

Days prior to the arrest of the MD and board member of Salai Holdings by the NIA, the Manipur police had frozen 36 accounts belonging to Salai Holdings Private Limited.

The Salai Holdings Private Limited has so far distanced itself from the statement of its former founding director and declared that the company has nothing to do with the said declaration of its former chairman Narengbam Samarjit Singh.

(Edited by Christopher Gatphoh)