SpiceJet MD Ajay Singh booked for defrauding businessman

In his complaint, Amit Arora has alleged that Singh delivered a fake depository instruction slip (DIS) of shares worth ₹10 lakh for services provided to him.

The Managing Director of SpiceJet airline Ajay Singh was booked here for duping a businessman worth crores of rupees on the pretext of allotting him company shares, police said on Monday.The complainant has claimed that Singh has defrauded others in a similar manner.In his complaint, Amit Arora has alleged that Singh delivered a fake depository instruction slip (DIS) of shares worth ₹10 lakh for services provided to him.He said that Singh had promised him to share him shares worth ₹10 lakhs of Spicejet in lieu of the services Arora provided him during the time he took over the airline from the promoters.”Ajay Singh provided a depository instruction slip which, later turned out to be invalid and outdated.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 valid depository instruction slip or transfer shares directly. However, on pretext or the other, he refused to transfer me shares,” Arora said in his complaint.I had no option left but to press charges against Singh, he added.Police registered case under sections 406, 409, 415, 417, 418, 420 of the IPC at Sushant lok police station.”FIR has been registered and we are verifying the facts and action will be taken as per the law,” said inspector Poonam Hooda, SHO of Sushant Lok police station.

Subscribe to our best newsletters

Subscribed to newsletter successfully

Thank you for subscribing to our Daily News Capsule newsletter.

Close Story