Alleged N1.3bn Fraud: Court Orders Dana Air MD’s Arrest

Alex Enumah in Abuja

Justice Obiora Egwuatu of a Federal High Court Abuja, on Monday, issued a bench warrant for the arrest of the Managing Director of Dana Air, Mr. Hathiramani Ranesh, over alleged refusal to appear in court to stand trial.
The arrest order which was sequel to Ranesh’s refusal to appear in court after been served with the charge and several proceedings of the court was in line with Section 184 of the Administration of Criminal Justice Act (ACJA), 2015.
Justice Egwuatu held: “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
“The defendant shall appear before this court on January 13, 2025, before any objection can be taken.”
He subsequently adjourned the matter until January 13, 2025 for hearing.
Recall that the federal government, through its lawyer, Mojisola-Okeya Esho, had, on October 10, prayed the court to issue a bench warrant for the arrest of Dana Air MD, arguing that Ranesh had 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).
Ranesh and two others are standing trial on a six-count charge bordering on bordering on criminal breach of trust.
But the defence lawyer, B. Ademola-Bello, disagreed with Esho, citing a preliminary objection challenging the jurisdiction of the court to hear the matter, adding 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.
Responding, Justice Egwuatu then adjourned the matter until November 4, for arraignment and/or hearing of preliminary objection.
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 joined as 2nd and 3rd defendants respectively.
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 of 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.