ED attaches ₹94 crore in foreign banks in Amira Pure Foods loan fraud case
Synopsis
The ED has frozen over $10 million sitting in a Singapore bank — money linked to a basmati rice group whose promoters are now declared fugitive economic offenders living abroad. With ₹226.26 crore seized across two attachment orders and 46 properties confiscated, the Amira Pure Foods case is one of the larger cross-border PMLA actions currently before Indian courts.
Key Takeaways
The ED's Gurugram Zonal Office provisionally attached ₹94.76 crore ($10,034,819) held at the Bank of Singapore on 25 May 2026 .
Total assets seized in the Amira Pure Foods money-laundering case now stand at ₹226.26 crore .
The accounts were held in the names of accused Karan Chanana , Amira Foods Pte.
Ltd. , and Ananntya Pte.
The alleged fraud caused a wrongful loss of ₹1,201.85 crore to a Canara Bank -led consortium, which turned NPA in 2017 .
Chanana and Anita Daing have been declared Fugitive Economic Offenders ; 46 properties worth ₹123 crore in Karnal and Faridabad ordered for confiscation.
A prosecution complaint has been filed against 21 persons, companies, and entities under the PMLA.
The Directorate of Enforcement (ED) has provisionally attached ₹94.76 crore held in foreign bank accounts in a money-laundering case involving Amira Pure Foods Ltd, whose officials are accused of a ₹1,201.85 crore loan fraud against a consortium of banks led by Canara Bank. The attachment, executed through the ED's Gurugram Zonal Office, pushes the total value of assets seized in the case to ₹226.26 crore.
Details of the Foreign Attachment
The Provisional Attachment Order, issued on 25 May 2026 under the Prevention of Money Laundering Act (PMLA), 2002, covers available balances worth $10,034,819.01 held at the Bank of Singapore. The accounts are maintained in the names of main accused Karan Chanana, Amira Foods Pte. Ltd., and Ananntya Pte. Ltd.
The attachment has been served on the concerned parties through the Mutual Legal Assistance Treaty (MLAT) mechanism with the United Kingdom and Singapore, as well as through other available means, according to the agency.
How the Fraud Unfolded
The ED launched its investigation on the basis of an FIR registered by the Central Bureau of Investigation (CBI), New Delhi, under various sections of the Indian Penal Code. It was alleged that Amira Pure Foods Private Limited, through its directors, promoters, and employees, committed fraud by siphoning and diverting funds, criminal misappropriation, breach of trust, and cheating — causing a wrongful loss of approximately ₹1,201.85 crore to the bank consortium.
Investigations established that the group had availed bank loans and cash credit facilities totalling approximately ₹1,201.85 crore from the Canara Bank-led consortium, which subsequently turned into a Non-Performing Asset (NPA) in 2017. A prosecution complaint has been filed against 21 persons, companies, and entities in the case.
Earlier Attachments and Asset Seizures
This is not the first enforcement action in the case. On 13 March 2024, the ED had issued a prior Provisional Attachment Order covering assets valued at ₹131.51 crore, which the Adjudicating Authority subsequently confirmed under the PMLA. The latest foreign bank attachment of ₹94.76 crore brings cumulative seizures to ₹226.26 crore.
Fugitive Economic Offenders Declaration
A parallel investigation under the Fugitive Economic Offenders Act, 2018 (FEOA) established that Karan A. Chanana, Chairman and Managing Director of Amira Pure Foods Private Limited, and Anita Daing, Whole-Time Director, had left India and were residing in the United Kingdom and the United Arab Emirates, respectively, having deliberately failed to return to face legal proceedings.
Non-Bailable Warrants (NBWs) were issued against both accused. The Special Court (PMLA), Rouse Avenue Courts, New Delhi, through its order dated 6 February, declared both as Fugitive Economic Offenders and ordered confiscation of 46 immovable properties valued at approximately ₹123 crore situated in Karnal and Faridabad.
About Amira Foods Group
Amira Foods Group was engaged in manufacturing and selling branded packaged food products, with a primary focus on Indian basmati rice. The group's financial dealings across multiple jurisdictions — including Singapore and the UK — have complicated the enforcement process, requiring cross-border legal cooperation through the MLAT framework.
With declarations under the Fugitive Economic Offenders Act now in place and foreign assets under provisional attachment, the case is expected to move toward confiscation proceedings in the coming months.
Point of View
The promoters and their assets are already offshore. The MLAT route with Singapore and the UK is legally sound but slow — and the gap between a loan turning NPA in 2017 and a foreign attachment in 2026 is nine years. The Fugitive Economic Offenders Act was precisely designed to accelerate such cases, yet the confiscation of 46 properties and a Singapore bank freeze are still at provisional or court-order stage, not final realisation. Until the banks actually recover funds — not just see attachments — the ₹1,201.85 crore loss remains largely unrecouped.
NationPress
31 Jul 2026
Frequently Asked Questions
What is the Amira Pure Foods ED case about?
The case involves an alleged ₹1,201.85 crore loan fraud against a consortium of banks led by Canara Bank. The ED is investigating money laundering by Amira Pure Foods Private Limited and its promoters, who are accused of siphoning and diverting funds availed as bank loans that turned NPA in 2017.
How much has the ED seized in total in this case?
The total value of assets seized stands at ₹226.26 crore. This includes ₹131.51 crore attached in March 2024 and the latest ₹94.76 crore frozen in foreign bank accounts at the Bank of Singapore in May 2026.
Who are the main accused in the Amira Pure Foods case?
The main accused are Karan A. Chanana, Chairman and Managing Director of Amira Pure Foods Private Limited, and Anita Daing, Whole-Time Director. Both have been declared Fugitive Economic Offenders by the Special Court (PMLA) at Rouse Avenue Courts, New Delhi, as they are residing abroad and have not returned to face legal proceedings.
What is a Fugitive Economic Offender declaration and what does it mean?
A Fugitive Economic Offender is a person against whom an arrest warrant has been issued for an economic offence involving ₹100 crore or more, and who has left India or refuses to return. Once declared under the Fugitive Economic Offenders Act, 2018, the court can order confiscation of their properties. In this case, 46 immovable properties worth ₹123 crore in Karnal and Faridabad have been ordered for confiscation.
How was the foreign bank attachment served on parties based abroad?
The ED served the attachment order through the Mutual Legal Assistance Treaty (MLAT) mechanism with the United Kingdom and Singapore, as well as through other available means. The MLAT framework enables cross-border legal cooperation for serving notices and enforcing orders in foreign jurisdictions.
