New Delhi: The Delhi High Court yesterday granted SpiceJet Promoter Ajay Singh interim protection from arrest in a case of alleged fraud, and he stated he will continue “to give full assistance in the matter.”
Mr Singh called the police report made against him in the case “mischievous and ridiculous,” stressing that the situation was “civil.”
“Mr Singh will continue to extend full cooperation in the matter to bring this mischievous complaint to a close. It is our belief that the matter is civil in nature and the complaint to the police is entirely frivolous,” said the statement issued by the SpiceJet Promoter.
“The Hon’ble Delhi High Court today stayed the non-bailable warrant issued against Mr. Ajay Singh by a lower court. The warrant was issued because Mr. Singh was unable to appear for a hearing because of covid isolation,” it added.
On Thursday, the Delhi High Court suspended a non-bailable warrant issued by a lower court against Mr Singh and ordered the police to take “no coercive action against the petitioner.”
The court stated that the parties’ disagreement appeared to be civil in nature, and that it “cannot be denied that the petitioner is the Chairman and Managing Director of SpiceJet Airlines and has significant social roots in the society.”
“FIRs in question are based on a civil and commercial dispute out of Share Purchase Agreements. The petitioner has already joined investigation and also filed a detailed reply to the Investigating Officer during the course of investigation. The dispute between the parties also appears to be of a civil nature which could not be finally concluded because of the different interpretations given by the parties,” noted Justice Anoop Kumar Mendiratta who listed Mr Singh’s anticipatory bail application in the case for further consideration on May 24.
“In the facts and circumstances, since the dispute concerns the transfer of shares involving breach of agreed terms and conditions, it may be appropriate to grant interim protection to the petitioner,” said Justice Mendiratta.
“Accordingly, no coercive action shall be taken against the petitioner till next date of hearing and NBWs, if any, issued in this regard by the Competent Authority are stayed. The petitioner is however directed to join the investigation as and when called by the Investigating Officer, the court said.
A complaint was filed at the Hauz Khas Police Station in connection with the transfer of shares in the airline to specific individuals.
After non-bailable warrants were issued against him in January for failing to appear before the police for inquiry, Mr Singh approached the trial court for protection from arrest in the matter.
His anticipatory bail motion had been denied by the trial court last month.
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