The troubles for SpiceJet Chairman and Managing Director Ajay Singh seem to be compounding as another First Information Report (FIR) has been filed against him in Gurugram for allegedly cheating a man by delivering fake share certificates, according to a report by News9.
Complainant Amit Arora alleges that Singh delivered a fake depository instruction slip (DIS) of 10 lakh shares for services provided to him. The police have filed an FIR under Sections 406 (criminal breach of trust) and 420 (cheating and dishonestly inducing delivery of property) of the Indian Penal Code (IPC).
“His intentions from day one were only to cheat. When you are giving forged share challans, it is a very clear intention to cheat the other person. I would want him to be booked under even further stringent provisions but of course, he is a big man and might get some leeway,” said Arora.
In his complaint filed with the Sushant Lok Police Station in Gurugram, Arora said that Ajay Singh approached him in 2015 for help with the takeover of SpiceJet.
As the airline was struggling financially with a lot of dues yet pending to other vendors, Singh promised Arora that he would be paid in company shares. Arora said he worked in good faith and delivered his services in helping Singh take over the company.
In October 2016, as payment, Singh allegedly gave Arora a DIS rather than transferring the shares directly. The complainant claimed that when he went to deposit the said slip, he was informed that it was outdated and invalid.
Arora’s police complaint states that from there onwards began a saga of him reaching out to Singh multiple times and the SpiceJet promoter either evading him or making false promises.
Arora claims he was only able to then meet Singh in May 2019 and at the meeting in Delhi, the SpiceJet promoter sought back the DIS stating that issues were going on with the earlier promoters of the airline, hence he needed the slips back to issue fresh ones.
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. Hitting back at the claims by Arora, a SpiceJet spokesperson called the complaint “bogus” and said they would be filing a defamation suit.
“A frivolous, mischievous and completely bogus complaint has been filed by liquor dealer Amit Arora with the Gurugram Police to hurt SpiceJet and Ajay Singh’s image. At no point in time was any service sought from him nor did he ever provide any kind of service to the airline. Neither 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 Ajay Singh.”SpiceJet
There was a delay in further communications due to the COVID-19 pandemic and then in March 2022, Arora got to know of the other cheating case against Singh.
On March 26, 2022, the Delhi High Court stopped short of granting anticipatory bail to Ajay Singh in the alleged cheating case lodged against him. The court ordered the continuation of the interim protection granted to him till September 8, 2022, i.e. the next date of hearing the matter.
In its order, the bench said that Singh had followed its instructions in the previous order and had joined the investigation against him.
On April 7, the Delhi High Court had directed Singh to keep 25 lakh shares of the airline company as security, which is the cause of the dispute between Singh and two other persons. The businessman was also ordered to submit an undertaking to the effect with the Hauz Khas police station in Delhi.
The bench had further directed Singh to join the investigation in the case whenever called by the investigating agency. The court is hearing a petition filed by Singh seeking anticipatory bail in a cheating case filed against him by Priti, Hena and Chetan Nanda in Delhi.
The allegation against Singh is that he had entered into a share purchase agreement with Delhi-based businessman Sanjiv Nanda where the SpiceJet promoter agreed to transfer 25 lakh shares of the company for INR 25 lakh.
The shares were to be split up and delivered in the names of Nanda’s wife and son. After transferring the money, Nanda was given a delivery instruction slip, a document used to facilitate and authorise the sale or transfer of shares from one account to another, by Singh.
However, when the Delhi businessman went to deposit the instruction slips, he was told that they were outdated and no transfer had occurred. Thereafter, a cheating case was filed against Singh.
A lower court had earlier dismissed the SpiceJet promoter’s anticipatory bail plea saying the grant of anticipatory bail at this stage of the investigation may “frustrate” the investigating agency in interrogating the accused, collecting useful information and the materials which might have been concealed.
(With Inputs from News9)