Guwahati: Ajay Singh, the chairman and managing director of SpiceJet has been charged with fraud after it was claimed that he defrauded a businessman of millions of shares under the guise of allocating them to him.
Amit Arora, the complainant, asserted that Ajay Singh had offered to transfer shares worth Rs 10 lakhs in exchange for the services.
“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.
In response to the charges, a SpiceJet representative called the complaint “totally fake and mischievous” and stated that SpiceJet and Ajay Singh would file a defamation case against Amit Arora.
“Amit Arora, a liquor dealer, has filed a frivolous, malicious, and totally false complaint with the Gurgaon police with the aim of damaging SpiceJet and Mr. Ajay Singh’s reputation. He was never asked to perform any work and never gave any kind of service to SpiceJet. There is no documented agreement between Mr. Singh and the complaint, nor has any other relevant SpiceJet employee ever met the complainant for any work. The police investigation will likely confirm this, and the FIR will be dismissed, we are confident “said a spokesperson for SpiceJet.