The Delhi High Court on Thursday granted interim protection to SpiceJet promoter Ajay Singh from arrest and coercive action in relation to a fraud case.
Justice Anoop Kumar Mendiratta directed Singh to cooperate in the investigation. The matter is listed next for May 24 for further hearing.
The Delhi High Court had reserved the matter on Wednesday after hearing arguments.
Senior Advocate Siddharth Luthra, who appeared for Singh, argued that there was no need for custodial interrogation of the SpiceJet promoter. Singh is not absconding and is cooperating with the investigation.
Luthra said Singh also returned the Rs 10 lakh which was given to him by the complainant for transfer of shares.
Senior Advocate Vikas Pahwa, appearing for the complainant, opposed the anticipatory bail plea. He said the present matter was serious and Singh absconded the same day when his anticipatory bail was rejected by the trial court.
Luthra said Singh had left the country due to some work and he intended to come back.
Senior Advocate Mohit Mathur, who appeared on behalf of the complainant in this case, argued that Singh made promises that he never intended to fulfill.
The Delhi Police counsel also opposed granting of relief to Singh and said other criminal cases are pending against Singh and a non-bailable warrant has also been issued against him in the present case.
Earlier, the court had rejected his anticipatory bail plea on March 31.
The case against Ajay Singh is based on a complaint filed by Delhi-based businessman Sanjiv Nanda who complained that Singh defrauded him by not honouring a share-purchase agreement. It is related to the transfer of 10 lakh shares of the airline to a businessman.
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According to the complainant, a share-purchase agreement between Singh and Nanda’s family was entered into for the transfer of a total of 25 lakh fully paid-up shares of SpiceJet towards Nanda’s family members.
The Delhi Police subsequently filed a case against the airline promoter at the Hauz Khas station under Section 420 (cheating and dishonestly inducing delivery of property) of the IPC.
On March 11, a Delhi court had granted Singh protection from arrest till March 28 and directed him to cooperate with the investigation.
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