The Enforcement Directorate (ED) has taken a major cross-border enforcement action in the alleged ₹1,200 crore bank loan fraud case by provisionally attaching deposits worth ₹94.76 crore held in a Singapore bank account. The funds were allegedly held in the name of fugitive economic offender Karan Chanana, promoter of Delhi-based basmati rice exporter Amira Pure Foods Pvt. Ltd. (APFPL), and entities linked to him. According to the ED, the total value of assets attached in the case has now increased to ₹226.26 crore.
The ED said the attachment has been carried out under the provisions of the Prevention of Money Laundering Act (PMLA). Investigators stated that Karan Chanana is currently based in the United Kingdom, while the company’s co-promoter, Anita Daing, is residing in Dubai. In February 2026, a special court in Delhi declared both of them Fugitive Economic Offenders under the Fugitive Economic Offenders Act, 2018.
According to the agency, deposits amounting to USD 10,034,819.01, equivalent to approximately ₹94.76 crore at the prevailing exchange rate, held in the Bank of Singapore in the name of Karan Chanana and linked entities, including Amira Pure Foods and Anantya Pte. Ltd., have been provisionally attached. The ED believes the funds represent proceeds of crime allegedly generated through the bank fraud.
The agency said the provisional attachment order has been served on the accused through the Mutual Legal Assistance Treaties (MLATs) between India and the United Kingdom, as well as India and Singapore. Other legally available channels have also been used to ensure that the attachment order is formally communicated to the accused.
The money laundering investigation was initiated in 2022 based on a Central Bureau of Investigation (CBI) FIR registered in 2020 against APFPL, Karan Chanana, Anita Daing and others. The CBI alleged offences including cheating, criminal breach of trust, criminal misappropriation and related financial crimes. According to investigators, the accused fraudulently obtained credit facilities and caused a wrongful loss of ₹1,201.85 crore to a consortium of banks led by Canara Bank.
The ED further stated that Amira Pure Foods had business operations across multiple jurisdictions, including the United States, the United Kingdom, the United Arab Emirates, Germany, Mauritius and several other countries. Investigators are now examining the company’s international financial transactions, overseas bank accounts and the movement of funds among associated entities to determine how the alleged proceeds of crime were transferred, layered or invested across different jurisdictions.
With the latest attachment, the total value of assets provisionally attached in the case has reached ₹226.26 crore. The agency said efforts are continuing to identify additional overseas assets and bank accounts allegedly linked to the accused, and further legal action will be initiated under applicable laws wherever necessary.
The ED said international cooperation has played a crucial role in tracing and securing assets located outside India. By invoking Mutual Legal Assistance Treaties and other legal mechanisms, investigators have been able to pursue assets held in foreign jurisdictions, strengthening the probe into the alleged financial crime.
The investigation remains ongoing, with the agency examining the complete money trail, the role of associated entities and individuals, and any additional beneficiaries who may have received or handled the alleged proceeds of crime. The ED said further attachments and enforcement measures may follow as the investigation progresses.
