In a setback to Samajwadi Party general secretary Amar Singh, the Allahabad High Court on Tuesday refused to grant immediate stay on his arrest in connection with an FIR accusing him of amassing Rs 500 crore by awarding contracts to a number of companies during SP rule in UP.

A division bench comprising Justice Yatindra Singh and Justice SK Tripathi declined to grant an immediate stay on Singh's arrest, saying the matter involves a huge sum of Rs 500 crore. "It would not be appropriate to grant an ex-parte interim order at this stage," it said.