New Delhi, February 7 A special court in the national capital has declared two promoters of a Delhi-based rice company as economic offenders, in connection with an alleged fraud involving a loan of Rs 1,200 crore against them.
The court of Special Judge Rajesh Malik declared Karan A Chanana, chairman and managing director of Amira Pure Foods Pvt Ltd (APFPL), and Anita Daing, a whole-time director of the company, as offenders under the Fugitive Economic Offenders Act (FEOA), 2018, on Friday, according to an order.
The court also directed the confiscation of assets worth Rs 123 crore belonging to the accused, ED officials said.
Chanana is reportedly based in the UK, while Daing is located in Dubai.
The money laundering case of 2022 stems from a 2020 CBI FIR registered against APFPL, Chanana, Daing, and others for allegedly committing fraud, criminal misappropriation, criminal breach of trust, cheating, etc., and causing wrongful loss of approximately Rs 1,201.85 crore to a consortium of banks led by Canara Bank.
Chanana is the head of the global rice brand Amira, which has business operations in the US, UK, UAE, Germany, Mauritius, and other countries, according to the ED.
"Both respondents, being abroad, have refused to return to India to face criminal prosecution. They have also left India to avoid criminal prosecution," the court said.
Accordingly, the court declared both respondents as fugitive economic offenders (FEO) under Section 10 of the FEOA 2018.
The FEOA was introduced by the Union government with the aim of bringing to justice those individuals who have left India to evade legal proceedings after committing fraud with a minimum value of at least Rs 100 crore.
Liquor baron Vijay Mallya and UK-based arms consultant Sanjay Bhandari have been declared FEOs in the past.