New Delhi, February 11: A special court at Rouse Avenue District Court has declared Karan A. Chanana, Chairman and Managing Director of Amira Pure Foods Private Limited, and Anita Ding, the company’s Whole-Time Director, as fugitive economic offenders. This ruling was made on February 6.
The court has ordered the seizure of assets worth ₹123.85 crores belonging to the accused. This decision follows an application filed by the Enforcement Directorate (ED) from its Gurugram zonal office, seeking the designation under the Fugitive Economic Offenders Act (FEOA).
Recently, Interpol issued a Silver Notice against Karan A. Chanana at the ED’s request, aimed at locating and freezing his assets worldwide. This action is part of an ongoing investigation based on various charges filed against him.
The Central Bureau of Investigation (CBI), specifically the Bank Securities and Fraud Branch (BSFB) in New Delhi, has registered the case. Allegations suggest that Amira Pure Foods Private Limited engaged in fund misappropriation, diversion, criminal breach of trust, fraud, and deception through its directors, promoters, employees, and associates, resulting in a loss of approximately ₹1201.85 crores to a consortium of banks led by Canara Bank.
Amira Foods Group has been involved in the production and marketing of branded packaged food, particularly Indian Basmati rice. The ED’s investigation revealed that the company had taken substantial bank loans and cash credit facilities amounting to ₹1201.85 crores from the Canara Bank-led consortium, which were declared as non-performing assets (NPAs) in 2017. The investigation has identified individuals and companies involved in money laundering.
According to the ED, Amira Pure Foods Private Limited and its promoters, shareholders, and directors are alleged to have committed money laundering offenses. Prosecution complaints have already been filed against 21 individuals, companies, and other entities in this case.
The ED has also identified properties acquired through criminal activities, with a total of ₹131.51 crores of assets already attached, as confirmed by the Adjudicating Authority. The investigation under the FEOA has revealed that Karan A. Chanana and Anita Ding are currently residing abroad, with reports indicating that Chanana is in the United Kingdom and Ding in the United Arab Emirates. They are accused of attempting to evade legal proceedings by staying outside the jurisdiction of Indian courts.
Non-bailable warrants (NBWs) and look-out circulars have been issued against the accused. The investigation continues to trace Chanana’s foreign assets and other properties, as well as examining the roles of Chanana and his family members. The ED has indicated that further actions in this case are likely.
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