COURT ORDERS ARREST OF DANA AIR MD, RANESH OVER ALLEGED N1.3 BILLION FRAUD

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The Managing Director (MD) of Dana Air, Mr. Hathiramani Ranesh, was the subject of an arrest warrant issued by a Federal High Court in Abuja on Monday due to his alleged unwillingness to appear in court for a trial.

In a ruling, Justice Obiora Egwuatu stated that Ranesh’s unwillingness to appear in court despite being presented with the charge and having many actions in the case taken against him necessitated his detention.

According to Justice Egwuatu, the court has the authority to issue an arrest warrant for any defendant who has refused to appear in court under Section 184 of the Administration of Criminal Justice Act (ACJA), 2015.

“The 1st defendant is bound to appear before the court and if he does not, the court can issued warrant for his arrest.

“Accordingly relying on the said provision, I hereby issued a warrant of arrest for the arrest of the 1st defendant.

“The defendant shall appear before this court on 13th of January, 2025, before any objection can be taken,” he said.

The judge then postponed the hearing until January 13, 2025.

According to the News Agency of Nigeria (NAN), on October 10, the Federal Government, represented by attorney Mojisola-Okeya Esho, asked the court to issue a bench warrant for Dana Air’s arrest.

Ranesh had allegedly neglected to show up for his arraignment in the N1.3 billion fraud case that the Office of the Attorney-General of Federation (AGF) had filed against him, according to Esho.

However, B. Ademola-Bello, the defence attorney, didn’t agree with Esho.

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He maintained that the prosecution had already been served and that they had submitted a preliminary objection contesting the court’s authority to hear the case.

On the grounds that the defendants should be prosecuted before the court considers any other application, Esho opposed taking the preliminary objection.

The judge then postponed the arraignment and/or preliminary objection hearing to today, November 4.

According to NAN, Ranesh and two other people were charged with six counts by the AGF.

Dana Group PLC and Dana Steel Ltd were named as the second and third defendants, respectively, in the charge filed by Moshood Adeyemi, Deputy Director of Public Prosecutions in the office of the AGF and Minister of Justice, with the filing number being FHC/ABJ/CR/101/2021.

In count one, Ranesh and the two companies, alongside others at large, were alleged to have committed a felony between September and December 2018 within the premises of DANA Steel Rolling Factory in Katsina.

They were alleged to have conspired to remove, convert and sell four units of industrial generators “i.e. three (3) units Ht of 9,000 KVA and 1 unit of 1,000 KVA; all valued at over N450 million, which form part of the Deed of Asset Debenture that were charged as collateral security for a bond issued in your favour, which Deed is still subsisting at all material times.”

In count three, the defendants and others at large at House No. 116, Oshodi-Apapa Expressway, Isolo-Lagos between April 7th and 8th, 2014, were alleged to have conspired to fraudulently divert the sum N864 million.

The money was said to be part of the bond proceeds from Ecobank meant for resuscitation of production at Dana Steel Rolling Factory in Katsina for other unapproved uses.

In count five, the defendants and others at large were alleged to have “conspired to fraudulently remove and transfer to one Atlantic Shrimpers Account No: 0001633175 with Access Bank and divert the sum of N60,300,000 (Sixty Million Three Hundred Thousand Naira).”

The money was said to be part of the bond proceeds from Ecobank meant for resuscitation of production at Dana Steel Rolling Factory in Katsina for other unapproved uses.

The cumulative sum of the amount involved in the charge is N1, 374, 300, 000.

All the offence is said to be contrary to and punishable under Section 516 of the Criminal Code Act, Laws of the Federation of Nigeria, 2004.

NAN observes that Ranesh had not appear in court since the case commenced before Justice Egwuatu.

When the case was called on Monday, Ademola-Bello informed the court that on the last adjourned date, the court directed the parties to file a written address on the points of law regarding Sections 221 and 396(2) of the ACJA, 2015.

“In compliance, we filed our written address on 31st of October, 2024. Upon receipt of prosecution’s response, we also filed a reply on points of law dated 31st day of October, 2024.

“Subject to the convenience of the court, we are ready to proceed,” he said.

Esho, who appeared for the AGF, confirmed being served.

However, Justice Egwuatu asked Ademola-Bello the whereabouts of Ranesh.

“Why are the defendants absent,” the judge asked.