Salai holdings

As many as 36 Bank Accounts of SALAI holding Pvt. Ltd Freezes

InsideManipur News Imphal, the 30th Nov 2020

It is pertinent to mention that, since the Founder Director Narengbam Samarjit announced government in exile in the UK which was published in almost all international print and electronic media, the normal function of SALAI Holding Pvt. Ltd. has been on halt. As a necessary step, a case for waging war against the state has been registered against him and his co-partner Yambem Biren at Lamphel Police station. Subsequently, all offices and bank accounts of SALAI Holding has been freezer by NIA.

It has been more than a year ago since the incident took place and numerous investors of SALAI Holdings are still waiting in the hope of revival of the firm. No one knows what will be the fate of SALAI Holding’s investors who have invested their hard-earned money with the hope of getting 3 percent interest. They collected money from the investors in the form of direct cash, which is against the rules of RBI.

On 02 November, in response to a petition filed by a top official of SALAI, the NIA court-ordered to open all sealed offices of the SALAI and de-freeze the accounts. This news sprinkled some ray of hope to all the investors for a while with an anticipation of getting some invested money back.

However, in a recent case as published in IFP.co.in, a man named Chingtham Tomcha from Thangmeiband Hijam Dewan Leikai, who is an investor at Salai Holding Pvt. Ltd. lodged a complaint of fraud against it. He had deposited some amount of money in December 2015 and since then he never withdraws any interest from the salai’s bank. However, when he visited the bank after about 4 years, he found his account had been closed without notifying him. Despite efforts being made to enquire about the issues and tried on numerous occasions to meet any of the staff or officials of SALAI holding, he couldn’t meet any of the bank officials. Thereafter, he lodged the complaint of fraud and misappropriation of the fund against Salai.

This case has thrown some light on the police department that in order to stop the fraudulent operation of the account and cheating people further, the Manipur Police on Sunday froze as many as 36 bank accounts of different Salai companies under the Salai Holdings Private Limited in Imphal. 

There could be many more men like Tomcha who have invested their hard-earned money with the hope of getting some returns to help their families. It is pertinent to mention here that Manipur is such a state where the opportunity for getting a job is very less. There is no factory or private players who can provide jobs to our people. Taking this loophole as an instrument some miscreants are trying to extort hard-earned money from the people promising a handsome return on investment. In such an alluring Ponzi scheme, people generally get trapped and never able to climb up once fallen. So, it is our own responsibility to keep away ourself from such an overnight rich scheme and also educate others not to fall into the trap.

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