Ajay Singh, the CEO of SpiceJet, arrested for allegedly scamming a businessman in Gurugram

12 Jul 2022 , 01:50 PM

According to authorities, the managing director of SpiceJet airline was arrested for defrauding a businessman out of lakhs of rupees on the pretense of giving him company stock. According to the complainant, Ajay Singh has committed similar fraud against other people.

Ajay Singh allegedly gave Amit Arora a phoney depository instruction paper (DIS) for shares worth Rs10 lakh in exchange for services rendered, according to Amit Arora’s complaint.

According to him, Singh promised to provide him Spicejet shares worth Rs10 lakhs in exchange for the assistance Arora gave him when he took over the airline from the promoters.

“Depository instruction slip given by Ajay Singh was later found to be obsolete and ineligible. After that, I repeatedly approached him and asked him to either present a legitimate depository instruction slip or transfer shares personally. He, however, refused to transfer me shares for some reason or another “According to Arora’s lawsuit.

I was forced to accuse Singh because I had no other choice, he said.

At the Sushant Lok police station, the police opened a case under sections 406, 409, 415, 417, 418, and 420 of the IPC.

Inspector Poonam Hooda, SHO of the Sushant Lok police station, stated that a FIR had been filed. “We are confirming the facts and taking action in accordance with the law,” she added.