Two promoters of Delhi company declared fugitives over Rs1,200 crore fraud

The money laundering case initiated by ED in 2022 stems from2020 FIR filed by the CBI against APFPL, Chanana, Daing, and others for allegedly committing fraud

New Delhi : Two promoters of a Delhi-based rice company, Karan A Chanana and Anita Daing, have been declared fugitive economic offenders (FEOs) by a Delhi court on the request of the Enforcement Directorate (ED), a move which allows the agency to confiscate their properties anywhere in the world, people familiar with the development said.

Promoters of Amira Pure Foods declared fugitives in ₹1,200 crore bank fraud (ANI)

Chanana, chairman of Amira Pure Foods Pvt Ltd (APFPL) and Daing, the whole-time director, are accused cheating a consortium of banks led by Canara Bank of ₹1,200 crore.

The FEO declaration under the FEO act, 2018, was cleared by special judge Rajesh Malik on February 6. Besides declaring them FEOs, the court also directed the confiscation of their assets worth ₹123 crore.

Chanana is said to be based in the UK, while Daing is located in Dubai.

“Both the respondents, being abroad, have refused to return to India to face criminal prosecution. They have also left India so as to avoid criminal prosecution. The notices of the present petition could not be served upon the respondents in spite of best efforts,” the court said in its order. Accordingly, it said, both the respondents are declared fugitive economic offenders (FEO) under Section 10 of the FEOA 2018.