The Delhi High Court on Thursday granted interim protection from arrest to SpiceJet promoter Ajay Singh in a case of alleged fraud related to transfer of shares of the airline to certain persons. “There is no coercive action till the next date of hearing,” Justice Anoop Kumar Mendiratta said. The court listed Singh’s anticipatory bail plea for further consideration on May 24. The court directed Singh to join the investigation and in the meantime freeze the disputed shares. ,

The trial court had last month dismissed Singh’s anticipatory bail plea holding that considering the overall facts and circumstances of the case and the gravity of the offence, there was no sufficient ground for granting him relief. Senior advocate Siddharth Luthra, appearing for Singh, had earlier argued before the high court that there was no need for custodial interrogation of the SpiceJet promoter and that he was not absconding and was cooperating in the investigation.

They have said that Singh also returned an amount of Rs 10 lakh, which was given to him by the complainant for transfer of shares, which could not materialize due to a separate pending dispute before an arbitral tribunal and he were ready. Safe and set asideā€ Number of shares under consideration in the investigation. In his bail plea, Singh has submitted that prima facie no offense was made out against him and the criminal case was an abuse of criminal machinery.


Senior advocate Vikas Pahwa, appearing for the complainant, had opposed the anticipatory bail plea and grant of interim relief, saying the present matter was “serious” in nature. Senior advocate Mohit Mathur, appearing for the complainant in the case, had also argued that Singh had made promises which he never intended to fulfill. Delhi Police’s counsel had submitted that there are other criminal cases pending against Singh and a non-bailable warrant was also issued against him in the present case.

In the present case, which pertains to two similar FIRs, a Delhi-based businessman and his family members have alleged that there was a share-purchase agreement between him and the accused and he paid Rs 10 lakh for 10 lakh shares of SpiceJet. had paid. However, these shares were not transferred, due to which a police complaint was lodged against Singh. The complainant has also claimed that the accused knowingly and dishonestly handed over the old and invalid DIS (Delivery Instruction Slip) to him.

Singh had moved a trial court seeking protection from arrest in the case after a non-bailable warrant was issued against him in January for failing to appear before the police for investigation.