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

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

    Delhi court rejects SpiceJet promoter Ajay Singh's anticipatory bail plea, written order awaited
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    By Moneycontrol News  IST (Published)

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

    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.
    SpiceJet has refused to offer its comments at this point.
    Singh had moved the court seeking anticipatory bail after two 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.
    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."
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