A special court in the capital has declared two promoters of Delhi-based rice exporter Amira Pure Foods Pvt Ltd as fugitive economic offenders, paving the way for the Enforcement Directorate (ED) to seize their properties in India and overseas in connection with an alleged ₹1,200-crore bank fraud.
Special judge Rajesh Malik passed the order on February 6 against company chairman Karan A Chanana and whole-time director Anita Daing, granting the central agency’s plea under the Fugitive Economic Offenders Act, 2018. The court also directed confiscation of assets valued at nearly ₹123 crore linked to the accused.
Investigators said Chanana is currently based in the United Kingdom, while Daing is believed to be residing in Dubai. Both have failed to return to India despite repeated summons, prompting the ED to move court seeking their declaration as fugitives.
In its order, the court observed that the respondents had deliberately stayed abroad to evade criminal prosecution and could not be served notices despite “best efforts”. “Both respondents, being outside India, have refused to face trial and have left the country to avoid prosecution,” the court noted while declaring them fugitive economic offenders under Section 10 of the Act.
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The case stems from a Central Bureau of Investigation (CBI) first information report registered in 2020 against Amira Pure Foods Pvt Ltd, Chanana, Daing and others. The FIR alleged cheating, criminal breach of trust, criminal misappropriation and conspiracy, causing wrongful losses of approximately ₹1,201.85 crore to a consortium of banks led by Canara Bank.
Based on the CBI probe, the ED initiated a money laundering investigation in 2022, accusing the promoters of siphoning off loan funds through a web of group entities and shell firms. Officials said the borrowed money was allegedly diverted for purposes unrelated to business operations, including overseas transfers and personal expenses, while repayments to lenders were defaulted.
The ED told the court that multiple properties and financial assets linked to the accused had already been provisionally attached during the investigation. With the FEO declaration now in place, authorities can proceed with full confiscation of identified assets, both movable and immovable, within and outside India.
Under the Fugitive Economic Offenders Act, individuals accused of economic offences involving sums exceeding ₹100 crore who flee the country to avoid legal proceedings can be declared fugitives. Once designated, they lose the right to defend civil claims in Indian courts, and their properties can be seized to recover dues.
Officials familiar with the case said the agency is also coordinating with foreign jurisdictions to trace assets allegedly held by the accused abroad. Mutual legal assistance requests have been initiated as part of efforts to repatriate funds.
Amira Pure Foods, once a prominent player in the basmati rice export market, had secured large credit facilities from multiple lenders over several years. The alleged fraud came to light after repayments stalled and internal bank audits flagged irregular fund movements.
The ED said the FEO order marks a significant step in holding absconding economic offenders accountable and recovering public money. Further proceedings are expected as the agency moves to liquidate confiscated assets and pursue extradition options.
About the author – Rehan Khan is a law student and legal journalist with a keen interest in cybercrime, digital fraud, and emerging technology laws. He writes on the intersection of law, cybersecurity, and online safety, focusing on developments that impact individuals and institutions in India.
