The High Court of Manipur has disposed of a writ petition filed by Vareiyo Vasha and another to transfer an FIR investigation against Pandam Nidhi Limited to the Center Bureau of Investigation (CBI).
In April 2023, hundreds of investors had stormed the office of Pandam -Leading The Way, Ukhrul Branch at Viewland for non payment of their due share. Since the Pandam – Leading The Way have backtracked and not keep their promises, the investors were compelled to take such action of storming the office. Many investors were not able to withdraw their deposited amount even after the completion of the maturity period.
Hundreds of investors from Ukhrul are yet to get back their deposited amount along with interest.
According to the “Deed of Agreement”, Pandam-Leading The Way has borrowed money from the individuals at certain rates (6%, 8% and 12%) per month. The maturity period of the amount deposited will be 8 and 12 months before which the aforesaid amount shall not be permissible for withdrawal.
The Pandam Nidhi Limited is registered under the Register of Campanies, Shillong. Established on 24 January 2020, its registered office is mentioned as House NO. 38, Lamlai Bazaar, Imohal East. Pandam Nidhi Limited is an MCM with National Industrial Classification (NIC) bearing Code No. 65999 with Corporate Identification Number (CIN) U65999MN2020PLN014029. Investors informed that the office is being run at Nagamapal (Opposite Sangai Hotel) Imphal- 795001 with mobile No. 8119949448. According to the information available, the company was founded by Tensubam Sobita, Rajesh Singh Chingangbam and Elangbam Lamnganba Metei.
According to information received from the counsel for the petitioners, Advocate Tungrei Ngakang, “the Hon’ble High Court has disposed of our case against Pandam Nidhi Pvt. Ltd.”
“Our primary prayer was for the transfer of the FIR investigation to the CBI to ensure a fair and effective inquiry. During the course of the hearing, learned counsel for the respondents submitted that the Competent Authority has complied with the petitioners’ prayer. In view of this submission, the Hon’ble Court has accordingly closed the matter.”
He further stated that “we shall continue to monitor the situation, and in the event of any delay or non-compliance—particularly regarding the communication to the Home Department—we will initiate appropriate legal action, including filing a contempt petition or pursuing other remedies as available under law.
For now, our principal prayer has been addressed, and I am satisfied with the outcome.”
During the course of hearing, Advocate Tungrei Ngakang, learned counsel for the petitioners, submits that the petitioners are confining the relief in prayer No. c (ii) for a direction to handover the investigation to CBI. Learned counsel submits that on behalf of the competent authority, the Director, Institutional Finance, Manipur has requested the Joint Secretary, Home Department, Government of Manipur vide letter dated 10.11.2025 expressing that the competent authority is of the view that CBI is the appropriate agency to investigate the case against M/S Pandam Nidhi Ltd. And M/S PayGD Enterprises.
