SpiceJet Director Booked For Allegedly Duping Businessman of Shares Worth Rs Lakhs

New Delhi: A case of fraud has been filed against the chairman and managing director of SpiceJet Limited for allegedly cheating a businessman of shares worth Rs lakhs on the pretext of allotting him the company's shares.

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

"Ajay Singh provided a depository instruction slip which, later turned out to be invalid and outdated. Thereafter, I approached him multiple times and requested him to either provide a valid depository instruction slip or transfer shares directly. However, on pretext or the other, he refused to transfer my shares," the FIR read.

When Arora's representative went to deposit the said slip, he was informed that the slip was invalid and outdated.

Following the complaint by Arora, the Gurugram Police registered the case against Singh under sections 406 (criminal breach of trust), 409 (criminal breach of trust by a public servant, or by banker, merchant, or agent), 415 (deception), 417 (cheating) 420 (cheating and dishonestly inducing delivery of property) of the Indian Penal Code at Sushant Lok police station.

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

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