Defrauding case: SpiceJet MD booked for giving businessman outdated company shares

GURUGRAM: SpiceJet airline Managing Director Ajay Singh was booked on Monday for duping a businessman of crores of rupees by promising to allow him shares in the company, according to the police.

The complainant Amit Arora alleged that he was given a fake depository instruction slip (DIS) of shares amounting to Rs 10 lakhs for services provided to Singh during the time he took over the airline from the promoters. He also claimed that the MD has similarly cheated others.

"Ajay Singh provided a depository instruction slip which, later turned out to be invalid and outdated.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 me shares," Arora said in his complaint.

"I had no option left but to press charges against Singh", he added.

A complaint has been registered against Singh at Sushant Lok police station under sections 406, 409, 415, 417, 418, and 420 of the IPC.

"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.

With PTI inputs