New Delhi, Feb 11 A special PMLA court has declared Amira Pure Foods Private Limited Chairman and Managing Director Karan A. Chanana, and Whole-Time Director Anita Daing as fugitive economic offenders and ordered the confiscation of assets worth Rs 123.85 crore belonging to the accused persons and companies.
This declaration has been made under the Fugitive Economic Offenders Act (FEOA), on the basis of an application filed by the Enforcement Directorate’s Gurugram Zonal Office, according to an official statement issued on Wednesday.
Recently, Interpol has also published a Silver Notice against Chanana on a request from the ED for tracing and freezing his assets worldwide.
The ED investigation in the case revealed that Amira Foods Group, which is in the business of manufacturing and selling branded packaged food, especially Indian basmati rice, had availed huge bank loans and cash credit loans to the tune of approximately Rs 1,201.85 crore from a consortium of banks led by Canara Bank, which subsequently became NPAs during 2017.
Amira Pure Foods Private Limited, through its promoters, employees and others, have committed fraud by siphoning and diverting funds, criminal misappropriation, criminal breach of trust, cheating, fraud and causing a wrongful loss to the tune of approximately Rs. 1201.85 crore to the consortium of banks.
The ED had identified the accused persons and companies involved in the offence of money laundering. Investigation also revealed that Amira Pure Foods Private Limited and its promoters and directors have committed the offence of money laundering, and accordingly, a prosecution complaint against 21 persons and entities has been filed in this case.
Further, investigation by the ED has identified properties/assets which are proceeds of crime, and the quantum of total attachment made so far in this case stands at Rs 131.51 crore, which has been duly confirmed by the authority.
The ED investigation under FEOA has revealed that Chanana and Daing have left India, and it is reasonably ascertained that they are residing in the United Kingdom and the United Arab Emirates, respectively. The accused persons have been evading the process of law by staying outside the jurisdiction of Indian courts so as not to face criminal prosecution. Non-bailable warrants of arrest and Look-Out Circulars have been issued against the accused.
Further investigation in respect of tracing other assets, including foreign assets of Chanana and his family members are in progress.
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