The Mumbai Police Economic Offences Wing (EOW) has registered a multi-crore shipping fraud and cheating case related to the shipping sector.
The EOW has registered a shipping fraud case amounting to Rs 18.33 crore against senior officials of ALX Shipping and Dubai-based Aladdin Express DMCC, having a major shareholding with Hutchison Ports.
As per the FIR copy accessed, the complaint was filed by Vishal Mehta of Rushabh Sealink and Logistics, who alleged that the accused were fully aware of substantial outstanding dues owed to port authorities for vessel-related payments. Despite this, they allegedly collected large payments from the complainant on the pretext of operational requirements and subsequently diverted the funds for unauthorised purposes.
The FIR states that the accused issued false and misleading container release orders and repeatedly lured the complainant with promises of higher profits.
The accused allegedly issued fraudulent container release orders, misrepresented vessel clearances, and enticed the complainant with promises of higher profit margins. Several business agreements were executed to build credibility, but were later violated, resulting in a reported loss of 18.33 crore.
The FIR also names company officials, including Sandeep Bakshi, Vikas Khan, and Ali Khan and the case is registered under BNS sections 316(2), 316(5), 318(4), and 61(2) at the Ghatkopar Police Station before the case was transferred to the EOW.
The agency is now tracing the financial trail to determine whether the diverted funds were routed overseas. Officials stated that, given the involvement of foreign companies, the investigation is likely to expand and could bring additional individuals or organisations under scrutiny.
ALX Shipping Agencies (India) Pvt. Ltd. (“ALX”) has clarified by blaming its former CEO, claiming that the matter primarily arises from unauthorised and individual actions by the former CEO, who has already been removed from his position following internal findings.
“Before this latest development, ALX had prior filed a detailed complaint with the Economic Offences Wing against our former CEO for actions undertaken without the knowledge or approval of ALX’s management or Board. The latest development is being tracked and reviewed internally,” it said via a statement.