Cheating case filed against SpiceJet MD Ajay Singh, others in Gurugram

A case of fraud has been registered against SpiceJet Chairman and Managing Director Ajay Singh and others for allegedly cheating a Gurugram resident by delivering fake share certificates to him.

Complainant Amit Arora, a resident of Magnolias, Golf Links, Golf Course Road, Gurugram, alleged in his police complaint that Singh delivered a forged depository instruction sheet (DIS) for 10 lakh shares in exchange for services rendered.

On July 7, a case was registered at the Sushant Lok police station under Sections 420 (cheating and dishonestly inducing handover of property) and 406 (criminal breach of trust) of the Indian Penal Code (IPC).

According to Arora, the former Spicejet proprietors, Kalanithi Maran and Kal Airways Private Limited, engaged into a Share Sale and Purchase Agreement with the accused Ajay Singh in 2015, in which their whole stock was transferred to him.

"Singh told me to take over the company as it was in a dire financial situation in terms of fuel charges with various oil companies, pending statutory dues, air fleet parking charges, salaries and other vendor payments, etc. To survive, they said, company required a complete overhaul and financial restructuring," Arora told the police.

In place of the same, Singh promised to transfer 10,00,000 shares to the complainant.Thereafter, the complainant worked in good faith and delivered his services.

In October 2016, the complainant requested Singh to transfer shares as had promised to him.

Instead of transferring shares, Singh provided a DIS. Singh represented that to deposit such slip with his depository participant, Global Capital Markets Limited. However, when the complainant's representative went to deposit the said slip, he was informed that it was invalid and outdated.

Thereafter, the complainant approached the accused multiple times and sought personal appointments to seek fresh depository instruction slips.

The complainant said, Ajay Singh, on one pretext or the other, refused appointments. He further assured that the complainant should not get worried and soon he would provide fresh depository instructions. The sudden change in stand, from stating that the slips were valid to fresh slips would be provided, was inexplicable. During the entire course of 2017, accused Ajay Singh refused to meet the complainant.

During this, Arora got to know of the other cheating case against Singh. Finding similarities between the two, the complainant then looked into the allegations against Singh and found that it was similar to his matter as well.

The complainant told the police that he conducted inquiries into the arbitration proceedings allegedly pending between Ajay Singh and the erstwhile promoters of SpiceJet.

"A case of fraud related to delivering a fake DIS of 10 lakh shares for services provided to the complainant has been registered against SpiceJet Chairman and Managing Director Ajay Singh and others. We are probing all related documents related to the matter. Action will be taken as per the prescribed law," Poonam Hooda, station house officer (SHO) of Sushant Lok Police Station told IANS.

Meanwhile, the SpiceJet dismissed the complaint as 'frivolous, mischievous and bogus'.

"A frivolous, mischievous, and completely bogus complaint has been filed by liquor dealer Amit Arora with the Gurgaon police with an intention to hurt SpiceJet and Mr Ajay Singh's image. At no point has the company sought any service 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. A defamation suit will be filed against the complainant by SpiceJet and Mr Singh," SpiceJet spokesperson said.

(with inputs from agencies)