Reuters - The Indonesian attorney general's office (AGO) said on Thursday it would seize the assets of one of Asia's largest palm oil producers, Asian Agri, if the company failed to pay outstanding taxes and fines before a February deadline.

The company, owned by one of Indonesia's richest men, Sukanto Tanoto, was found guilty of tax evasion in 2012 and ordered by the Supreme Court to pay 2.5 trillion rupiah ($205 million) in back taxes and fines.

"The Attorney General stresses that he will continue to encourage the ... Asian Agri Group to pay the fine immediately," the AGO said in a statement. "The deadline is very close. Therefore, we request the Asian Agri Group to fulfil its obligations (according to) the verdict of the Supreme Court."

The company has challenged the ruling, stating: "Asian Agri is not the accused and hasn't been sentenced in the case ... which refers to a former employee. Asian Agri hasn't been tried and given a chance to defend itself in a court of law."

The company's assets include 167,000 hectares of oil palm plantations in North Sumatra province and factories with a combined annual capacity of over 1 million tons, according to the company's website.

The AGO said the company's assets are worth at least $410 million.

State-owned Enterprises Minister Dahlan Iskan said he was ready to take over maintenance of the company, which employs 25,000 workers.

"(The ministry) was requested to cooperate so the employees can still work ... and the confiscated assets would not be damaged, but will be maintained," Iskan told reporters. "This (scenario) is if Asian Agri doesn't pay."

$1 = 12,185 rupiah