HC grants interim protection from coercive action to SpiceJet promoter Ajay Singh in fraud case
Highlights
- Delhi High Court granted interim protection from arrest to SpiceJet promoter Ajay Singh
- Court directed “no coercive action till the next date of hearing”
- Court directed Singh to be a part of the investigation and hold the disputed shares frozen in the meantime
The Delhi High Court on Thursday granted interim protection from arrest to SpiceJet promoter Ajay Singh in a case of an alleged fraud associated to the switch of shares of the airline to sure people. “No coercive action till the next date of hearing,” stated Justice Anoop Kumar Mendiratta who listed Singh’s anticipatory bail software in the case for additional consideration on May 24. The court docket directed Singh to be a part of the investigation and hold the disputed shares frozen in the meantime.
The trial court docket had rejected Singh’s anticipatory bail software final month, stating that it didn’t discover ample grounds to grant aid to him in view of the general details and circumstances of the case and the gravity of the offence. Senior advocate Sidharth Luthra, showing for Singh, had earlier argued earlier than the excessive court docket that there was no want for the SpiceJet promoter’s custodial interrogation and he was not going to abscond and he was cooperating in the investigation.
He has acknowledged that Singh even returned the sum of Rs 10 lakh which was given to him by the complainant for the switch of shares after the identical couldn’t materialise on account of a separate pending dispute earlier than an arbitral tribunal and that he was keen to “secure and set aside separately” the variety of shares in query in the investigation. In his bail plea, Singh has submitted that ex-facie no offence was made out towards him and the prison case was an abuse of the prison equipment.
Senior advocate Vikas Pahwa, showing for the complainant, had opposed the anticipatory bail plea in addition to the grant of interim aid, saying that the current case was “serious” in nature. Senior advocate Mohit Mathur, additionally showing for the complainant in the matter, had argued that Singh made guarantees that he by no means supposed to fulfill. Delhi Police lawyer had stated that different prison circumstances had been pending towards Singh and a non-bailable warrant was additionally issued towards him in the current case.
In the current case, which pertains to two comparable FIRs, a Delhi businessman and his relations have alleged that there was a share-purchase settlement between him and the accused and he paid Rs 10 lakh for 10 lakh shares of SpiceJet. These shares, nevertheless, weren’t transferred main to the submitting of the police criticism towards Singh. The complainant has additionally claimed that the accused intentionally and dishonestly handed over outdated and invalid DIS (supply instruction slip) to him.
Singh had moved the trial court docket looking for protection from arrest in the case after non-bailable warrants had been issued towards him in January for failing to seem earlier than the police for investigation.
