The Delhi High Court today stayed proceedings against Subrato Roy, chairman of the Sahara India Group, before a lower court which had issued a bailable warrant against him in a case of alleged cheating and forgery in a housing project launched by his company.
Judge Ajit Bharihoke said the proceedings and the execution of the warrants against Roy and four other company officials would remain stayed till May 10, the next date of hearing.
Earlier, the court of the chief metropolitan magistrate had directed the Delhi police to execute the warrant against Roy and others by February 9. The warrant was issued on a complaint filed by a Neeraj Pandey, who alleged the company had not started the housing project despite getting a payment of Rs 1 lakh from him in 2003.
He has alleged the company launched the scheme, Sahara Swarn Yojna, for developing 217 townships over the country.
Senior advocate Abhishek Manu Singhvi, appearing for the company, said the order of the lower court was “malicious” as instead of issuing summons first, it had straightaway issued the bailable warrants against Roy and others.