Court orders arrest of Dana Air MD, Ranesh over alleged N1.3 billion fraud

A Federal High Court in Abuja on Monday issued an arrest warrant against the Managing Director of Dana Air, Mr. Hathiramani Ranesh, for allegedly refusing to appear in court to face trial.

Justice Obiora Egwuatu, in his ruling, stated that Ranesh’s arrest was necessary due to his failure to appear in court despite being served with the charge and several proceedings having taken place.

Justice Egwuatu held that, according to Section 184 of the Administration of Criminal Justice Act (ACJA), 2015, the court has the authority to issue an arrest warrant against any defendant who fails to attend court sessions.

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

“Accordingly, relying on the said provision, I hereby issue a warrant of arrest for the arrest of the 1st defendant,” Justice Egwuatu stated, adding that the defendant must appear before the court on January 13, 2025, before any objections can be raised.

The judge then adjourned the matter until Jan. 13, 2025, for hearing.

Backstory  

It was earlier reported that the Federal Government, through its lawyer, Mojisola-Okeya Esho, had on Oct. 10, prayed the court to issue a bench warrant for the arrest of Dana Air.

• Esho had argued that Ranesh refused to appear for his arraignment in the alleged N1.3 billion fraud preferred against him by the Office of the Attorney-General of Federation (AGF).
• But the defence lawyer, B. Ademola-Bello, disagreed with Esho.
• He argued that they had filed a preliminary objection challenging the jurisdiction of the court to hear the matter and that the prosecution had already been served.

Esho, on her part, objected to taking the preliminary objection on the ground that the defendants ought to be arraigned first before the court could entertain any other application.

The judge then adjourned the matter until Nov. 4 (today) for arraignment and/or hearing of preliminary objection.

Details of the Case  

The Attorney General of the Federation (AGF) filed a six-count charge against Mr. Hathiramani Ranesh and two others. In the charge, marked FHC/ABJ/CR/101/2021 and filed by Moshood Adeyemi, Deputy Director of Public Prosecutions in the office of the AGF and Minister of Justice, Dana Group PLC and Dana Steel Ltd were named as the 2nd and 3rd defendants, respectively.

• In count one, Ranesh and the two companies, along with others still at large, were alleged to have committed a felony between September and December 2018 at the DANA Steel Rolling Factory in Katsina.
• They were accused of conspiring to remove, convert, and sell four units of industrial generators—three units Ht of 9,000 KVA and one unit of 1,000 KVA—valued at over N450 million. These assets were reportedly part of the Deed of Asset Debenture used as collateral for a bond, which remains valid.
• Count three alleges that the defendants and others at large conspired to fraudulently divert N864 million between April 7th and 8th, 2014, at House No. 116, Oshodi-Apapa Expressway, Isolo-Lagos.
• This sum, reportedly part of the bond proceeds from Ecobank intended for revitalizing production at Dana Steel Rolling Factory in Katsina, was allegedly diverted for unauthorized purposes.

In count five, the defendants and others were accused of conspiring to transfer N60,300,000 to an Atlantic Shrimpers account (No: 0001633175) at Access Bank, fraudulently diverting funds earmarked as part of the Ecobank bond proceeds for resuming production at the Katsina factory.

The cumulative amount involved in the charge totals N1,374,300,000. Each offense is said to be contrary to and punishable under Section 516 of the Criminal Code Act, Laws of the Federation of Nigeria, 2004.