HC orders bail for Lamjingba MD

By Our Staff Reporter
IMPHAL, Dec 23 : A single bench of the High Court of Manipur has granted bail to Sanasam Jacky, Chief Managing Director of Lamjingba Group of Companies, in connection with a case under the Prevention of Money Laundering Act (PMLA), today.
The bail order was passed by Justice A Guneshwar Sharma in connection with a bail application filed by Jacky (35), s/o Late Sanasam Kulla Singh of Babu Bazar, Kiyam Siphai.
The Court heard the submissions of Nageswara Rao, senior counsel for the petitioner assisted by M Brojendro, counsel for the petitioner, and S Suresh, counsel appearing on behalf of the Enforcement Directorate (ED).
ED submitted that the Lamjingba Group of Companies defrauded investors to the tune of Rs 600 crore by operating an unauthorized and unregulated deposit scheme, collecting funds from approximately 15,000 investors with promises of high returns.
It was also stated that investors were also misled into depositing large sums of money to Lamjingba Finance under the false assurance of guaranteed returns.
Although initial returns were paid, ED continued that Lamjingba Finance ceased operations in the first quarter of 2020 without returning the promised funds.
Furthermore, the ED claimed that Lamjingba Finance continues to operate under the guise of the "All Manipur Lamjingba Investor Association" (AMLIA), with Mutum Robindro Singh and Inaoton Laiphrakpam as their leaders.
Based on the allegations, the Manipur police registered seven FIRs all dated June 18, 2025.
Nageswara Rao, senior counsel for the petitioner, submitted that chargesheets have not yet been filed in any of the FIRs registered by the Manipur police as the investigation is still ongoing.
It was also submitted that the petitioner is currently facing trial in the case registered by the ED.
Out of the 21 witnesses cited for the ED case, five have already been examined, with 16 more to be heard, the petitioner counsel said and noted that it may take one to two more years to complete the proceedings before the Special Court.
Additionally, the petitioner counsel said that Jacky has been granted bail in all the FIRs but remains in custody in connection with the ED case.
Under Sections 3 and 4 of the PMLA, the prescribed punishment ranges from a minimum of 3 years to a maximum of 7 years imprisonment. As of now, the petitioner has been in custody for more than the minimum sentence and is approaching the halfway point of the maximum potential sentence as an under-trial prisoner, it was said.
After hearing the submissions of both the petitioner and the ED, the Court observed that in light of settled bail law under the PMLA and considering the prolonged incarceration and delays in the investigation and trial of the scheduled offences, it was inclined to grant the petitioner bail.
The Court ordered that the petitioner be released on furnishing a personal bail bond of Rs. 25,00,000 along with two sureties, both of whom must be gazetted officers and provide a similar bond amount.
The Court also directed that the bail bond be submitted to the satisfaction of the learned Special Judge (PMLA), Imphal East.
As per the bail order, Jacky must appear before the Special Court on each scheduled trial date, as well as before the Investigating Officer of ED on the 1st and 15th of every month.
The Court also prohibited Jacky from influencing witnesses, tampering with evidence, or leaving the State without permission from the Court.
Additionally, Jacky must surrender his passport to the custody of the Special Court if he has not already done so, the Court ruled.