Interpol's Silver Notice Targets Fugitive Rice Baron in Major Bank Fraud Case

Interpol has issued a Silver Notice against Karan A. Chanana, the head of Amira Pure Foods Pvt Ltd, a Delhi-based rice company, over his alleged involvement in a Rs 1,200 crore bank loan fraud case. The Enforcement Directorate (ED) confirmed the international notice, aimed at tracing and freezing Chanana's assets globally. The notice was released following a request from the ED to the Lyon-headquartered police organization.

Karan C. Chanana, who is currently situated in the UK, was recently declared a fugitive economic offender by a Delhi court, along with Anita Daing, a whole-time director of Amira Pure Foods Pvt Ltd. The court has ordered the confiscation of assets worth Rs 123.85 crore belonging to the accused. The charges stem from a 2020 CBI case accusing Chanana and others of fraud, criminal breach of trust, and cheating, causing significant financial damage to a consortium of banks led by Canara Bank.

The Fugitive Economic Offenders Act, introduced by the Indian government, seeks to tackle financial crimes involving sums over Rs 100 crore. High-profile figures such as Vijay Mallya have been previously declared under this act. Investigations to uncover additional domestic and international assets linked to Chanana are ongoing, as the ED asserts that both Chanana and Daing have evaded the law by remaining outside India's legal jurisdiction.