Overview
- Special Judge Rajesh Malik issued the declaration under the Fugitive Economic Offenders Act, 2018.
- The court ordered confiscation of movable and immovable assets valued at ₹123.85 crore.
- Karan A. Chanana and Anita Daing did not comply with ED summons, prompting open-ended non-bailable warrants on May 28, 2025.
- Authorities report Chanana is in the UK and Daing in Dubai, with service attempts routed through Indian missions after notices failed to reach them.
- A forensic audit for 2015–2018 alleged diversion and stock manipulation, including about ₹700 crore moved through shell companies after the loans were tagged NPA and later as fraud.