New Delhi, February 8 A special court here has declared two promoters of a Delhi-based rice company as economic offenders who have fled the country, in connection with an alleged fraud involving a loan of Rs 1,200 crore against them.
According to an order, 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.
The court also ordered the confiscation of assets worth Rs 123 crore belonging to the accused, according to officials of the Enforcement Directorate (ED).
Chanana is reportedly based in the UK, while Daing is located in Dubai.
The 2022 money laundering case 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 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 (FEOs) under Section 10 of the FEOA 2018.
The FEOA was introduced by the Union government with the aim of bringing to justice those people who have left India to evade the law 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.