Mumbai: The Anti-Terrorism Branch (ATB) of the Special Branch busted a hawala racket after coordinated raids at three locations in Kurar, Malad East, on Wednesday. One accused, Mohammed Islam Ismail Khan alias Salim Rahmatullah Shaikh, 49, has been detained for questioning. An FIR has been registered at Kurar Police Station against accused Mohammed Islam Ismail Khan under Sections 318(4), 319(2), 336(3), 337, 340(2), and 180 of the Bharatiya Nyaya Sanhita (BNS), along with Section 12(1)(b) of the Passports Act, 1967, and Sections 3 and 13 of the Foreign Exchange Management Act (FEMA), 1999.

The raids were conducted at Flat No 1302, Fatema Tower, Pathanwadi; Flat No 904, D-Wing, Sugra Park, RS Road; and a ground-floor office in Parekh Overseas building, all in Malad East.

During the operation, officials seized cash worth ₹12.5 lakh, foreign currency worth around ₹2 lakh in Kuwaiti dinars, multiple fake passports, nine mobile phones, a laptop, an iPad and larg number of documents, including bank wire transfer records.

Preliminary investigation revealed that the accused had been residing in Kuwait for the past 22 years and frequently visited Mumbai for short durations of two to three months. He allegedly owns three laundry businesses in Kuwait and operates two offices in Mumbai.

Police sources said multiple passports were fraudulently obtained under different identities, two in the name of Mohammed Islam Ismail Khan and three in the name of Salim Rahmatullah Shaikh.

Authorities are probing a possible terror funding angle linked to the hawala operations. The detained accused is being questioned, and the process of registering a case at Kurar police station is underway. Senior Police Inspector Umesh Patil confirmed the development.

Mumbai: The Economic Offences Wing (EOW) of Mumbai Police has arrested a 21-year-old accused in connection with an alleged ₹13.17 crore cheating and criminal breach of trust case involving transactions in unlisted shares of the National Stock Exchange (NSE).

The accused has been identified as Heet Bhavesh Shah (21), a resident of Mira Road–Bhayander. Police sources said Shah is educated up to Class 12 and had undergone training in share market broking. He reportedly aspired to become wealthy through stock market dealings.

An FIR in the matter was initially registered at MRA Marg Police Station, and the probe was later transferred to the EOW for detailed investigation. The complainant, Harith Naginidas Kampani (59), a share consultant operating from Dalal Street, Fort, has been engaged in unlisted share broking and conversion of old physical shares into demat form for the past seven years.

According to the FIR, Kampani stated that he was acquainted with Shah, who also dealt in unlisted shares and operated from the same building. In the first week of June 2025, Shah allegedly informed Kampani that he had unlisted NSE shares available for sale.

On June 8, 2025, Kampani placed an order for 1,00,000 unlisted NSE shares for his clients. Shah quoted ₹19 crore and assured delivery within two days of receiving payment. Accordingly, Kampani transferred ₹19 crore to Shah’s bank account on June 11, 2025.

Subsequently, Kampani placed an additional order for 20,000 unlisted NSE shares—13,700 for clients and 6,300 for himself—for a total of ₹3.50 crore, which he transferred between June 3 and June 12, 2025.

However, despite repeated follow-ups, Shah allegedly failed to deliver the shares and cited various excuses. Following persistent demands, Shah returned ₹11.40 crore on June 16, 2025, and ₹2.5 lakh on June 18, 2025—totalling ₹11.425 crore—but failed to refund the remaining ₹11.075 crore or deliver the shares.

In September 2025, Shah allegedly claimed he was arranging funds for corporate clients and would soon receive brokerage commissions, promising to clear the dues. Trusting him, Kampani transferred an additional ₹2.80 crore on September 1, 2025.

However, Shah returned only 25 lakh unlisted shares of the Metropolitan Stock Exchange of India (MSEI) worth ₹70 lakh on September 3, 2025, and failed to repay the remaining amount.

Despite repeated demands, Shah allegedly continued to give false assurances. The complainant has alleged that Shah misappropriated the funds for personal use and deliberately deceived him.

According to the complaint, Shah collected a total of ₹25.30 crore under the pretext of selling unlisted NSE shares and cheated the complainant of ₹13.17 crore by neither delivering the shares nor refunding the money. Further investigation in the case is ongoing.

Mumbai: A disturbing case of alleged harassment and attempted fraud has surfaced in the city after a motorist claimed he was chased by a group posing as loan recovery agents on the Eastern Express Highway. The incident, which took place in broad daylight, has raised concerns about public safety and the handling of such complaints by authorities.

The victim, Sarabjit Chadha, shared his ordeal through a detailed thread on the social media platform X, describing how he was pursued by five unidentified men riding two motorcycles around 4:45 pm. According to Chadha, the men attempted to force him to stop his car by alleging that he had unpaid loan dues and pending EMIs linked to his vehicle.

Chadha maintained that the claims were entirely false, stating that his car carries no outstanding loan. When he refused to stop, the men allegedly began chasing his vehicle aggressively, engaging in dangerous driving and intimidation tactics in an apparent attempt to coerce him into pulling over.

Fearing for his safety, Chadha drove directly to the Chunabhatti police chowki. Upon noticing the presence of police personnel, two of the alleged pursuers reportedly fled the scene. The remaining three individuals stayed back and attempted to justify their actions by presenting details on a mobile application, claiming it showed a loan linked to Chadha’s vehicle.

However, Chadha pointed out a discrepancy, while the vehicle registration number matched, the app identified the car as a Honda City, whereas his vehicle was of a completely different make. This raised further suspicion about the authenticity of the claims and the intent of the group.

Police personnel initially responded by calling for backup. One of the accused fled, while another allegedly began apologising. The third individual reportedly made phone calls as the situation escalated. Chadha was then taken to the police station, where one of the suspects was briefly detained and others were asked to produce identification and vehicle documents.

The situation took a turn when one of the men who had fled earlier returned with a group of more than six individuals, including a person allegedly linked to a political party. Chadha claimed that following their arrival, the approach at the police station shifted. Instead of proceeding with a formal complaint or filing a non-cognisable (NC) offence, he was reportedly persuaded to settle the matter.

After nearly four hours at the police station, Chadha said he was mentally exhausted and under pressure due to concerns from his family. He eventually agreed to accept a written apology from the accused and no official complaint was registered.

While Chadha later expressed gratitude towards the police for their initial assistance, the incident has sparked questions about organised road scams and the influence of external pressures on due process. Mumbai Police has not yet issued an official statement on the matter.