SpiceJet shares fell 11.19% to Rs 38.72 in early trade against the previous close of Rs 43.60 on BSE. The aviation stock opened lower at Rs 42.50 today.
This comment comes after news reports stated that promoter Ajay Singh is in talks for a stake sale, including with a Middle Eastern airline. Singh holds a 60 per cent stake in the airline.
The cheating case against Singh stems from a complaint by a Delhi resident who alleged that Singh did not honour his commitments for a share-purchase agreement