The Delhi High Court has ordered an inquiry into a Delhi Police officer’s attempt to arrest an accused individual despite an active court-granted protection order. The case involves allegations of cheating related to the transaction of 25,000 unlisted National Stock Exchange shares worth ₹5.63 crore.
The Delhi High Court has directed an investigation into the procedural actions taken by the Delhi Police concerning an attempted arrest of an individual, Amit Jain. The court’s intervention follows concerns that an investigating officer sought and received approval to search for and arrest the accused in Mumbai, even though an interim protection order from the court was already in place.
Judicial Concerns Over Procedural Lapses
Justice Prateek Jalan highlighted discrepancies in the official request for arrest, noting that the permission was sought and approved by senior police officers on May 8, 2026. This occurred while Amit Jain’s anticipatory bail application was active and the court had explicitly granted him interim protection. The court noted that the protection was further reinforced by a subsequent order on May 14. The inquiry aims to clarify how this request was processed and approved by the department despite the existing legal shield.
Background of the Allegation
The ongoing legal matter stems from a cheating complaint involving a transaction of 25,000 unlisted National Stock Exchange (NSE) shares, with a stated value of ₹5.63 crore. During the proceedings, counsel for the accused presented documents, including information obtained through the Right to Information Act, to challenge the legitimacy of the police's approach.
Next Steps and Cooperation
The Delhi Police informed the court that while the accused has cooperated with the investigation, there remain specific documents that the police require for the case. In response, the court has directed the investigating officer to provide a formal list of these pending documents to the accused within two days. Counsel for the accused has confirmed that any requested documentation in his client's possession will be provided.
The complainant in the case has also been granted permission to submit further evidence. The court has scheduled the next hearing for July 14, 2026, where the progress of the inquiry and the document submission process will be reviewed. Investors and observers in the financial space often monitor such legal developments to understand the compliance risks and governance standards associated with transactions involving unlisted securities, where transparency and regulatory adherence remain critical.