The Delhi High Court has dismissed the anticipatory bail plea of SpiceJet promoter Ajay Singh in a case related to alleged non-completion of a deal on a share purchase agreement.
The Delhi High Court was hearing a petition in the case in which a non-bailable warrant was issued against Singh by the Economic Offenses Wing (EOW).
SpiceJet did not respond business Linee-mail seeking comment on the above development.
Senior advocate Vikas Pahwa, appearing for complainant Sanjeev Nanda, said on Wednesday, “The court heard the matter and dismissed Singh’s application. We had opposed the application on several grounds including misconduct, fraudulent practice, among others. We argued. Given that Singh has not appeared during any of the hearings nor has he fulfilled his side of the deal.”
The complaint was filed by Delhi-based businessman Sanjeev Nanda, who alleged that a share-purchase agreement was signed between Singh and Nanda’s family to transfer around 2.5 million fully paid-up shares of SpiceJet. However, Singh failed to do so. The offense was registered under several sections of the Indian Penal Code including 406, 409, 420.
This is not the only FIR registered against Singh. At least two other FIRs are registered against him. Non-bailable warrants (NBWs) have been issued against them in both these cases. Not only this, he also has NBW against his daughter Avani Singh.
Published on
30 March 2022