Delhi High Court Grants Interim Protection From Arrest To SpiceJet Promoter Ajay Singh In Fraud Case

The Delhi High Court on Thursday granted interim protection from arrest to SpiceJet Promoter Ajay Singh in an alleged fraud case relating to transfer of airline's shares to some individuals.

Justice Anoop Kumar Mendiratta pronounced the order after hearing counsel appearing on behalf of Singh, Delhi Police and the complainant. While listing the matter for hearing on May 24, the court directed Singh to join investigation.

Singh was denied anticipatory bail by a city Court here last month observing that there was no sufficient ground for granting relief to him given the overall facts of the case and gravity of offence alleged.

The matter pertains to to similar FIRs wherein it was alleged by a Delhi based businessman that there was a share purchase agreement between him and Singh and that he paid Rs. 10 lakh for 10 lakh shares of SpiceJet. These shares, however, were not transferred leading to the filing of the police complaint against Singh.

The complainant had claimed that Singh dishonestly handed over the outdated and invalid delivery instruction slip to him.

Last month, Singh was granted protection by the trial court from coercive action till the pendency of the anticipatory bail plea while directing him to cooperate and participate in the investigation.

During the course of hearing, Senior Advocate Siddharth Luthra appearing for Singh submitted before the Court that there was no need for his custodial interrogation. Luthra also argued that Singh will not abscond and was in fact cooperating with the investigation.

On the other hand, Senior Advocate Vikas Pahwa appearing for the complainant had opposed the anticipatory bail plea by arguing that the matter was serious.

Copy of the order is awaited.

Case Title: Ajay Singh v. State

Citation: 2022 LiveLaw (Del) 290