The Managing Director of Dana Air, Hathiramani Ranesh has failed to appear in court on Thursday for his scheduled arraignment over allegations of N1.3 billion fraud.
The case, filed under charge number FHC/ABJ/CR/101/2021, involves Ranesh, Dana Group PLC, and Dana Steel Ltd, who face six counts brought against them by the Federal Government.
In response to Ranesh’s absence, the Attorney General of the Federation’s counsel, Mojisola Okeya, urged Justice Obiora Egwuatu of the Federal High Court in Abuja to issue an arrest warrant.
However, Ranesh’s lawyer, Bidemi Ademola-Bello, objected, stating that a preliminary objection challenging the court’s jurisdiction had been filed, which the prosecution had been served.
Okeya countered, arguing that Ranesh must appear for arraignment before any other applications could be heard.
Justice Egwuatu requested Ademola-Bello to cite any legal provision supporting his request and directed the parties to present arguments on whether the preliminary objection should be considered before arraignment.
The case was adjourned until November 4, 2024.
The defendants are accused of conspiring to convert and sell four industrial generators valued at over N450 million, part of a Deed of Asset Debenture used as collateral for a bond.
They are also alleged to have diverted N864 million from Ecobank bond proceeds meant for the Dana Steel Rolling Factory in Katsina, bringing the total fraud charges to over N1.37 billion.
