An arrest warrant has been issued for Hathiramani Ranesh, Managing Director of Dana Air, by the Federal High Court in Abuja over his alleged involvement in a N13 billion fraud scheme.
On November 4, Justice Obiora Egwuatu ordered the defendant’s arrest after he failed to appear in court to respond to a six-count charge brought by the Federal Government.
The arrest warrant was issued under Section 184 of the Administration of Criminal Justice Act (ACJA), 2015. Justice Egwuatu stated, “The defendant is obligated to appear before the court, and if he does not, the court may issue a warrant for his arrest. Therefore, I hereby issue a warrant for the arrest of the defendant.”
Ranesh has been ordered to appear in court on January 13, 2025, before any objections to the charges can be considered. Despite his absence, he has engaged lawyer Mr. B. Ademola-Bello to challenge the legitimacy of the charges and the court’s jurisdiction.
The Federal Government, represented by lawyer Mojisola-Okeya Esho, requested the bench warrant, arguing that the preliminary objection cannot be heard without the defendant first entering his plea.
The charges, marked as FHC/ABJ/CR/101/2021, involve Ranesh, Dana Group PLC, and Dana Steel Ltd as defendants, accused of committing felonies between September and December 2018 at the Dana Steel Rolling Factory in Katsina.
The defendants allegedly conspired to remove, convert, and sell four industrial generators valued at over N450 million, which were collateral for a bond issued to them. They also face allegations of fraudulently diverting N864 million from Ecobank, intended for the factory’s operations.
The cumulative amount involved in these charges is N1,374,300,000, with the offenses punishable under Section 516 of the Criminal Code Act, Laws of the Federation of Nigeria, 2004.
During the court proceedings, the defense counsel claimed that the first defendant was outside the country and that the other defendants are corporate entities. However, Justice Egwuatu was not satisfied with this explanation and mandated Ranesh’s arrest for the next hearing.