Mumbai: A massive corporate fraud of over ₹325 crore has come to light in Mumbai’s shipping and logistics sector. Vishal Mehta, Director of Rushabh Sealink & Logistics Pvt. Ltd., has filed a complaint with the Economic Offences Wing (EOW) of the Mumbai Police, prompting a detailed Preliminary Enquiry.

According to sources, Mehta’s complaint accuses ALX Shipping Agencies India Pvt. Ltd. (a subsidiary of Allcargo Logistics Ltd.), Dubai-based Aladdin Express DMCC, and OEL Express India Pvt. Ltd. of orchestrating the fraud. The complaint alleges that these companies lured him into ship operations with promises of guaranteed profits. Initial transactions appeared genuine, but later, crores of rupees were siphoned off under the guise of new deals.

Major Scam Linked to Ships ‘Leela Mombasa’ and ‘XXH-2’ :  The largest fraud is linked to shipments on Leela Mombasa and XXH-2. The Leela Mombasa was scheduled to dock at Nhava Sheva on August 1, 2025, but instead arrived late on August 13 and was diverted to Oman instead of Djibouti, carrying cargo worth ₹130 crore. Meanwhile, on August 26, Mehta was allegedly extorted for USD 1 million (approx. ₹8.3 crore).

The accused reportedly claimed they lacked funds to move the ships further. Despite payments, the vessels failed to reach on time. Leela Mombasa only arrived at Djibouti on September 15, while XXH-2 was diverted from Jeddah to Karachi and held for 10 days. Adding to the fraud, security cheques issued by ALX and OEL Express bounced—one due to insufficient funds and another due to signature mismatch.

As a result, goods worth over ₹290 crore remain under the accused’s control, causing heavy losses to exporters. Calling it a “well-planned corporate conspiracy,” Mehta alleged that both Indian and foreign company executives were involved. The complaint specifically names ALX Shipping Agencies India Pvt. Ltd., Allcargo Logistics Ltd., Aladdin Express DMCC, and OEL Express India Pvt. Ltd., along with senior representatives including Sandeep Bakshi, Ravi Jakhar, Vikas Khan, Ali Khan, Wing Kit Tsoi (Mr. Andy), Abdullah, and Mohammed Rizwan Sheikh.

“This is not just about one company but about the credibility of India’s shipping and logistics industry,” Mehta said. “We have provided all evidence to the authorities. The involvement of international firms like Aladdin Express DMCC and stakeholders such as Allcargo Logistics, Hutchison Port, and Vikas Khan shows the global scale of the scam. We trust EOW and regulatory agencies will conduct a fair and transparent investigation.”

EOW officials confirmed that a preliminary inquiry has been registered. All individuals and companies named in the complaint have been summoned with documents to record their statements.

Mumbai: The Kandivali police have registered a case of cheating worth ₹4.07 crore against a local developer, identified as Jayant Mehta, a resident of Samajdeep building, Bata Showroom Lane, Kandivali (West)..

According to the complaint lodged by Dinesh Dayalal Vadodaria (74), a real estate agent, the accused allegedly duped him by showing redevelopment documents of 11 rooms located at Shivmahal Building, Danvibhavan Chawl, Mathuradas Road, Kandivali (West). The accused assured the complainant of profitable returns if he financed the project.

Believing these assurances, Vadodaria invested ₹2.89 crore in cash and ₹1.18 crore via cheque, totaling ₹4.07 crore. However, neither the redevelopment project materialized nor did the complainant receive any returns, leading to the registration of the case.

The alleged fraud occurred at Mathuradas Road, White Arch Building, Kandivali (West). Police have booked the accused under relevant sections of cheating and fraud. Further investigation is underway.

Mumbai: A Mumbai-based businessman has accused a city builder of duping him of over Rs 3.10 crore in an allegedly fraudulent flat sale at the Ison Heights project in Lower Parel, after waiting nearly a decade for possession. Following the complaint, the N. M. Joshi Marg Police have registered a case of cheating against Ishwarlal Lakhada of Hatadiya Builders Pvt. Ltd.

According to the FIR, the complainant, Champat Suthar, 49, who runs a glass business and resides in Chinchpokli (East), was looking to buy a new flat in 2014. Through a mutual business contact, he was introduced to real estate agent Champalal Jain, who showed him an under-construction project called Ison Heights, being developed by Hatadiya Builders Pvt. Ltd. on N. M. Joshi Marg, Lower Parel.

Jain assured Suthar that 14 floors of the building had already been completed and possession would be given within the next 18 months. Impressed with the property during a site visit, Suthar agreed to proceed with the purchase and was introduced to builder Ishwarlal Lakhada, a resident of Aditya Building, Sikka Nagar, V. P. Road, Mumbai.

A deal was finalized for Flat No. 702 on the 7th floor at a total cost of Rs 2.46 crore — Rs 2.36 crore for the flat and Rs 10 lakh for a parking slot. Between April 16, 2014 and August 18, 2016, Suthar claims to have paid Rs 1.12 crore via cheques and another Rs 1.30 crore in cash, totaling Rs 2.42 crore.

However, according to the complaint, Lakhada started avoiding the flat agreement process after receiving the payments.

In 2017 and 2018, the construction of the project came to a standstill. Work resumed in January 2019, prompting Suthar to once again follow up with the builder, who then allegedly demanded additional payments. Suthar transferred an additional Rs 67.82 lakh via cheques to Hatadiya Builders account.

By April 8, 2024, the total amount paid by Suthar had reached Rs 3.10 crore. Lakhada had reportedly promised to hand over the flat by September 2024, but failed to do so. After multiple follow-ups yielded no response, Suthar sent a legal notice on March 8, 2025, demanding possession within 15 days. With no reply from the builder, Suthar approached the N. M. Joshi Marg Police.

Based on the complaint, police have booked Ishwarlal Lakhada under Section 420 (cheating) of the Indian Penal Code. Further investigation is underway.