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Court Orders Arrest Of Dana Air MD, Ranesh Hathiramani


IMG 20241104 WA0019 1A Federal High Court, Abuja, has issued a warrant for the arrest of the Managing Director of Dana Air, Hathiramani Ranesh.

Justice Obiora Egwuatu ordered Ranesh’s arrest on Monday, following his refusal to appear physically in the court to enter his plea to a six-count charge preferred against him by the Federal Government.

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“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 and relying on the provision of the law, I, hereby, issued a warrant 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”, Justice Egwuatu held.

The arrest order was anchored on section 184 of the Administration of Criminal Justice Act (ACJA), 2015.

The Federal Government had in the charge marked: FHC/ABJ/CR/101/2021, alleged that the defendants and others at large committed a felony between September and December 2018, within the premises of DANA Steel Rolling Factory in Katsina.

While it named Ranesh, Dana Group PLC and Dana Steel Ltd, as 1st to 3rd defendants, respectively, the defendants 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.”

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It further alleged that the defendants and others at large, at House No. 116, Oshodi-Apapa Expressway, Isolo-Lagos, between April 7th and 8th, 2014, conspired to fraudulently divert the sum of N864 million. The money was said to be part of the bond proceeds from Ecobank meant for the resuscitation of production at Dana Steel Rolling Factory in Katsina for other unapproved uses.

They were also 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 the resuscitation of production at Dana Steel Rolling Factory in Katsina for other unapproved uses.

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The cumulative sum of the amount involved in the charge was N1,374,300,000, while the offence was said to be contrary to and punishable under Section 516 of the Criminal Code Act, Laws of the Federation of Nigeria, 2004.

At the resumed proceeding on Monday, the defence lawyer, B. Ademola Bello, told the court that the 1st defendant (Ranesh) was outside the country, and the other defendants were corporate entities under his management.

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Justice Egwuatu however ordered that Ranesh should be arrested and produced before the court on the next adjourned date of January 13, 2025.



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