Moneycontrol PRO
Live Now |Super25 3.0- India’s Largest Online Stock Traders Conference brought to you by Moneycontrol Pro & Espresso
you are here: HomeNewsTrendsLegal

Delhi court rejects SpiceJet promoter Ajay Singh's anticipatory bail plea, written order awaited

The protection from arrest for Singh was granted till March 28. The case was taken up for hearing once this period lapsed.

March 31, 2022 / 09:46 AM IST
Ajay Singh

Ajay Singh

A Delhi court has dismissed the anticipatory bail plea filed by SpiceJet promoter Ajay Singh in relation to a fraud case, Senior Advocate Vikas Pahwa representing the complainant told Moneycontrol.

A written order from the court to this effect is awaited still and is expected to be passed on March 31, Pahwa told Moneycontrol.

Singh has been appearing before the police for investigation in line with the court's March 9 direction, a SpiceJet spokesperson said. "Mr. Ajay Singh, as per the Hon’ble Court’s directive, has already joined the investigation and appeared before the authorities. Therefore, no warrant or bail is relevant since these were to ensure his attendance."

Singh had moved the court seeking anticipatory bail after non-bailable warrants were issued against him in January for failing to appear before the police for investigation. Earlier this month, the court had protected Singh from coercive action while directing him to cooperate and participate in the investigation.

"Mr. Singh will continue to extend full cooperation in the matter to bring this frivolous and mischievous complaint to a close," the SpiceJet spokesperson added.

Close

The protection from arrest for Singh was granted till March 28. The case was taken up for hearing once this period lapsed.

Arguing for the complainants in the case, Pahwa told the court that Singh had not been cooperating with the investigating agencies and had also misdirected them.

The complaint against Singh for alleged fraud was filed in 2021 by a Delhi-based businessman, Sanjiv Nanda. The complainant alleged that 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. These shares, however, were not transferred leading to the filing of the police complaint against Singh.

Following the complaint, the police registered a First Information Report (FIR) against Singh on the court's direction. Singh has been charged under various provisions of the Indian Penal Code (IPC). The investigation in the case is underway.

On Singh's non-appearance before the police for investigation, non-bailable warrants against him came to be issued. This led to Singh seeking anticipatory bail from the court.

On March 9, Singh issued a statement claiming to have offered full cooperation to the investigating agencies and expressed willingness to appear before the police in person. Singh also stated that the dispute was of civil nature and the police complaint was "frivolous and mischievous."



Download your money calendar for 2022-23 here and keep your dates with your moneybox, investments, taxes

Shruti Mahajan
first published: Mar 30, 2022 05:49 pm
Sections
ISO 27001 - BSI Assurance Mark