New Delhi: A Delhi court on Friday granted interim protection from arrest to SpiceJet promoter Ajay Singh on an alleged financial fraud case registered against him. The court has also told Singh to join and cooperate with the probe, according to a report by ANI.
On Wednesday, Singh moved an appeal before the court seeking stay order on the arrest warrant issued against him filed by a Delhi businessman.
According to the report, Additional Sessions Judge Vineeta Goyal after hearing the case on Wednesday said, “Considering the totality of facts and circumstances, the applicant/accused is directed to join the investigation on March 11 and further as hen called by the investigation officer.”
Singh faces a non-bailable warrant, which can be used to send a person to jail for allegedly not joining a police investigation despite several notices issued to him.
According to the First Information Report (FIR) copy, filed with the Hauz Khas police station in South Delhi, the complaint was filed by a Delhi’s Sanjeev Nanda, owner of Star Mobitel, a shop for electronic appliances.
The FIR stated that Singh entered into a share-purchase agreement with Nanda where he agreed to transfer 25 lakh shares of the company for Rs 25 lakh. While 10 lakh shares were to be transferred in favour of his son Chetan Nanda, 15 lakh shares were to be transferred in favour of his wife Priti Nanda.
Nanda was given delivery instruction slip, a document used to facilitate and authorise the sale or transfer of shares from one account to another. However, when Nanda went to deposit the instruction slips, he was told that the slips were outdated and no share transfer could be effected.