The Enforcement Directorate (ED) has provisionally attached deposits worth ₹94.76 crore held in a Singapore bank account as part of its money laundering investigation into the alleged ₹1,200 crore bank loan fraud involving Delhi-based basmati rice exporter Amira Pure Foods Pvt. Ltd. (APFPL) and its promoters. According to the agency, the action has been taken under the provisions of the Prevention of Money Laundering Act (PMLA). With this latest attachment, the total value of assets attached in the case has increased to ₹226.26 crore.
The ED stated that the attached funds, amounting to USD 10.03 million (approximately ₹94.76 crore), were held in accounts with the Bank of Singapore in the name of the principal accused Karan Chanana and entities linked to him, including Amira Pure Foods and Anantya Pte. Ltd. The provisional attachment order has been served through the Mutual Legal Assistance Treaty (MLAT) mechanism, under which India cooperates with countries including the United Kingdom and Singapore for cross-border legal assistance in criminal investigations.
According to the agency, Karan Chanana is currently based in the United Kingdom, while the company’s co-promoter Anita Daing is believed to be residing in Dubai. In February 2026, a special court in Delhi declared both individuals Fugitive Economic Offenders under the Fugitive Economic Offenders Act, 2018. Following that declaration, the ED intensified efforts to identify, trace and attach their domestic and overseas assets allegedly linked to the proceeds of crime.
The money laundering investigation originates from a 2022 ED case, which is based on a 2020 CBI FIR registered against APFPL, its promoters and others. The CBI alleged that the accused committed offences including cheating, criminal breach of trust, criminal misappropriation and fraud, causing an estimated ₹1,201.85 crore loss to a consortium of banks led by Canara Bank.
Investigators are currently examining the complete money trail, including international banking transactions, overseas corporate structures and cross-border fund movements. The agency is attempting to determine how the alleged loan proceeds were transferred abroad, whether intermediary entities were used to conceal ownership, and if shell companies or layered financial structures were employed to disguise the origin of the funds.
According to the ED, Amira Pure Foods has business operations not only in India but also in the United States, the United Kingdom, the United Arab Emirates, Germany, Mauritius, and several other countries. The international footprint of the company has made cooperation with foreign jurisdictions crucial for obtaining banking records, corporate documents and financial intelligence relevant to the investigation.
Officials said international legal cooperation mechanisms such as the MLAT framework have become increasingly important in financial crime investigations involving overseas assets. These arrangements enable Indian enforcement agencies to seek assistance from foreign authorities in identifying, freezing and attaching bank accounts and other assets suspected to represent proceeds of crime.
The ED is continuing to scrutinize banking records, corporate filings, financial transactions and digital evidence connected to the accused individuals and associated entities. Investigators are also examining whether additional assets linked to the alleged fraud are located outside India. If further proceeds of crime are identified, the agency may initiate additional attachment proceedings under the PMLA.
The investigation remains ongoing, and the allegations have not yet been adjudicated in court. The accused are entitled to present their defence and contest the allegations through the judicial process. The ED has maintained that further action will depend on evidence collected during the continuing investigation into the alleged bank loan fraud and the movement of funds across multiple jurisdictions.
