Then CMD and whole-time director of Amira Pure Foods declared ‘fugitive economic offenders’

The then chairman and managing director (CMD) and a whole-time director of Amira Pure Foods Private Limited have been declared “fugitive economic offenders” by a special Delhi court. They face charges of bank loan fraud and money laundering.

The court has also ordered the confiscation of movable and immovable assets worth ₹123.85 crore, belonging to the accused persons/companies, under the Fugitive Economic Offenders Act. The two accused have been identified as the then Amira Pure Foods CMD Karan A. Chanana, and whole-time director Anita Daing.

As alleged, the company defaulted in repayment of interest and failed to submit the financial statement, particulars of the net worth of guarantors, routed transactions outside the consortium lenders, did not enable stock audits, maintained accounts outside the consortium lender banks, etc. Its loan accounts involving ₹1,201.85 crore were designated as fraud by all the member banks.

The complainant, Canara Bank, classified the loan account as a non-performing asset (NPA) on September 29, 2017. A forensic audit of the period between April 1, 2015 and March 31, 2018 detected alleged cheating, fraud, misappropriation and diversion of funds, stock manipulation, etc.

The Enforcement Directorate (ED), which is probing the money-laundering charge, found that Mr. Chanana was the interface between the company and the banks. He, along with Ms. Daing, had approached Canara Bank and other consortium members for credit facilities. During his tenure as managing director, the company allegedly diverted about ₹700 crore from the funds sanctioned as loan through a layer of shell companies.

Ms. Daing “resigned from the company on May 20, 2016, when the banks started to declaring the accused company’s as NPA account”.

The ED issued summonses asking both the accused to get their statements recorded. However, they did not join the investigation. The agency found that Mr. Chanana had left the country on October 16, 2017 from Mumbai airport, and the second accused left on December 29, 2016, from Delhi airport, as alleged.

Open-ended non-bailable warrants were issued against the two accused on May 28, 2025. The agency found that Mr. Chanana was then residing in England, and Ms. Daing in Dubai. It approached the court seeking that they be declared wanted under the Fugitive Economic Offenders Act. The court issued notices to them, but they failed to make an appearance in person.

Following requests by the investigating agency, the Ministry of Home Affairs wrote to the High Commission of India, London, to serve the notice upon Mr. Chanana, and to the Consulate General of India, Dubai, to serve the court notice upon Ms. Daing. However, the court order noted, 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 respondent in spite of best efforts. Notices have also been sent to their respective emails. Accordingly, both the respondents are declared fugitive economic offenders under Section 10 of the Fugitive Economic Offenders Act,” the order said, adding that the properties in question be confiscated.