Spicejet MD Booked For Allegedly Duping Businessman Of Lakhs

The complainant, Amit Arora, claimed that Ajay Singh had promised to transfer shares worth Rs 10 lakh in lieu of services provided to him.
Spicejet MD Booked For Allegedly Duping Businessman Of Lakhs

A case of fraud has been lodged against chairman and managing director of SpiceJet, Ajay Singh, for allegedly cheating a businessman of crores of shares on the pretext of allotting him the company's shares.

The complainant, Amit Arora, claimed that Ajay Singh had promised to transfer shares worth Rs 10 lakh in lieu of services provided to him.

"SpiceJet was in dire financial difficulty in terms of fuel charges with various oil companies, pending statutory dues, pending air fleet parking charges, pending salaries, other vendor Payments etc in 2015. In order to survive, the said company required a complete overhaul and financial restructuring, the accused Ajay Singh approached the Complainant in an effort to salvage the situation. In lieu of the same, the accused Ajay Singh promised to transfer shares to the tune of 10,00,000 shares to the Complainant," read the complaint.

"Thereafter, the Complainant requested the accused Ajay Singh to transfer shares as was promised to him. Instead of transferring shares, the accused Ajay Singh provided a depositary instruction slip (DIS) which was later found to be invalid by the complainant," it added.

Meanwhile, a SpiceJet spokesperson responded to the allegations calling the complaint "completely bogus and mischievous" and said that a defamation case will be fined against Amit Arora by SpiceJet and Ajay Singh.

"A frivolous, mischievous and completely bogus complaint has been filed by a liquor dealer Amit Arora with the Gurgaon police with an intention to hurt SpiceJet and Mr Ajay Singh's image. At no point in time was any service sought from him nor did he ever provide any kind of service to SpiceJet. Neither Mr Singh nor any concerned person from SpiceJet has ever met the complainant for any work nor is there any written agreement between them. We are confident that the police investigation will prove the same and the FIR will be quashed," said SpiceJet Spokesperson.

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