Two Ships, Bounced Cheques And Missing Cargo: Rs 325 Crore Shipping 'Scam' Unfolds In Mumbai
The complainant has levelled accusations against ALX Shipping Agencies India, Aladdin Express DMCC and OEL Express India.
A fraud of over Rs 325 crore has surfaced in Mumbai’s shipping and logistics sector, following a complaint filed by Vishal Mehta, director of Rushabh Sealink & Logistics Pvt. Ltd. The case is now being investigated by the Economic Offences Wing of Mumbai Police, reported NDTV.
Mehta has named several prominent firms, including ALX Shipping Agencies India Pvt. Ltd., a subsidiary of Allcargo Logistics Ltd., Dubai-based Aladdin Express DMCC, and OEL Express India Pvt. Ltd, according to the copy of complaint accessed by NDTV.
According to Mehta, these companies offered investments in shipping operations with assured profits. Initially, transactions went smoothly, but later large sums of money were allegedly siphoned off through dubious contracts and deals.
The complaint centres around two vessels, Leela Mombasa and XXH-2. Leela Mombasa was expected to arrive at Nhava Sheva port (Jawaharlal Nehru Port), in Mumbai on Aug. 1, but it reached on Aug. 13, having been diverted to Oman instead of Djibouti.
The vessel was carrying cargo valued at about Rs 130 crore. Mehta further alleged that on Aug. 26, he was extorted for $1 million after being told the ship lacked funds to continue operations. Despite the payment, the ship reached Djibouti only on Sept. 15. Meanwhile, the XXH-2 was diverted from Jeddah to Karachi and was held there for 10 days, causing further delays.
Mehta in his complaint also claimed that security cheques issued by ALX Shipping Agencies and OEL Express bounced. One cheque failed due to insufficient funds, while the other was rejected for a signature mismatch. Because of this, cargo worth more than Rs 290 crore remains stuck, with exporters bearing heavy losses.
The complaint also lists several individuals, including Sandeep Bakshi, Ravi Jakhar, Vikas Khan, Ali Khan, Wing Kit Tsoi (Andy), Abdullah, and Mohammad Rizwan Shaikh.
Mehta, while speaking to NDTV, said the case is not just about his company but about the credibility of India’s shipping and logistics industry as a whole. He noted that the investigation is also linking the matter to international entities such as Allcargo Logistics and Hutchison Port.
