A Federal High Court in Abuja has issued an arrest warrant for Mr. Hathiramani Ranesh, the Managing Director of Dana Air, who has not appeared in court to face fraud charges.
Justice Obiora Egwuatu issued the arrest order on Monday, emphasizing that Ranesh’s refusal to attend court, despite receiving court notifications, necessitated this action.
Justice Egwuatu stated, “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, I hereby issue a warrant for the arrest of the 1st defendant.”
The case against Ranesh involves multiple allegations of financial misconduct totaling over N1.3 billion. According to the Attorney-General’s office, Ranesh, alongside Dana Group PLC and Dana Steel Ltd, is accused of diverting funds meant to support Dana Steel’s production.
The charges, filed by Deputy Director of Public Prosecutions Moshood Adeyemi, claim that between 2014 and 2018, Ranesh and his companies misappropriated significant amounts. These include N864 million intended for production in Katsina, allegedly used for unapproved purposes, and N60.3 million allegedly transferred to an Access Bank account unrelated to the company’s official activities.
The prosecution, led by lawyer Mojisola Okeya-Esho, argued that the arrest warrant was necessary due to Ranesh’s ongoing absence. Esho stated that Ranesh “refused to appear for his arraignment in the alleged N1.3 billion fraud preferred against him.”
The case is scheduled to continue on January 13, 2025, when Ranesh is expected to appear before the court for further proceedings.
