Delhi Rice Company's Promoters Declared Fugitive Economic Offenders
A special court has declared two promoters of a Delhi-based rice company as fugitive economic offenders in connection with a Rs 1,200 crore bank loan fraud. The court ordered asset confiscation worth Rs 123 crore and noted the accused have evaded prosecution by staying abroad.
- Country:
- India
A special court has declared Karan A Chanana and Anita Daing, promoters of Delhi-based Amira Pure Foods Pvt Ltd, as fugitive economic offenders over a Rs 1,200 crore bank loan fraud.
The court's ruling allows for the confiscation of assets worth Rs 123 crore. Chanana resides in the UK and Daing in Dubai, with both refusing to return to India for prosecution.
The case originates from a 2020 CBI FIR against the company and individuals, with allegations of fraud and causing losses to banks led by Canara Bank. The Fugitive Economic Offenders Act aims to bring to justice those evading Indian law.
Advertisement
ALSO READ
-
China's Market Dynamics: Metal Stocks Soar Amid Economic Uncertainties
-
Uttar Pradesh's Transformative Journey Towards Economic Revival
-
Andhra Pradesh Charts New Economic Vision for 2047
-
Rahul Gandhi Highlights Geopolitical and Economic Shifts in Lok Sabha Address
-
Athens Rent Surge: Locals Priced Out Amid Economic Recovery
Google News