Mumbai News: Ghatkopar Police Book Shipping Firm CEOs, Directors In ₹18.33 Crore Fraud Case

Mumbai: The Ghatkopar police have registered an FIR against Sandeep Bakshi (CEO, ALX Shipping Agencies India Pvt. Ltd.), Vikas Khan (Director, Aladdin Express DMCC), Ali Khan (CEO, Aladdin Express DMCC), ALX Shipping Agencies India Pvt. Ltd., and Aladdin Express DMCC (Dubai) for allegedly cheating a Mumbai-based logistics businessman of Rs18.33 crore.

According to the FIR, the accused allegedly accepted large sums of money from the complainant despite knowing that their vessels had outstanding dues and insufficient funds for fuel. They allegedly diverted the money elsewhere, issued misleading container release orders, lured the complainant with promises of high profits, and entered into multiple commercial agreements with the intention to defraud.

The complaint was filed by Vishal Pankaj Mehta, 45, a resident of Urban T Building, Sky Lyle Oasis, Ghatkopar (West). Mehta is a director of Rishabh Sealink & Logistics Pvt. Ltd., which has been in the shipping, logistics, and freight forwarding business for two decades. For the past 4–5 years, his firm had been doing business with ALX Shipping Agencies India Pvt. Ltd., which represents Dubai-based Aladdin Express DMCC.

In April 2025, Bakshi allegedly offered Mehta an investment plan in OEL Express India Pvt. Ltd., promising a profit of Rs50 lakh within a month on an investment of Rs10 crore. Mehta agreed, and an investment agreement dated April 30, 2025, was executed, backed by post-dated cheques for security. The first investment cycle returned the full amount within 11 months, which strengthened Mehta’s trust.

In May 2025, Mehta allegedly made another investment of Rs10 crore in OEL Express on Bakshi’s assurance, but only Rs1.5 crore was returned. He was repeatedly promised that the remaining amount would be paid soon. Mehta also invested Rs10 crore in ALX Shipping Agencies India Pvt. Ltd. as advised. However, he claims he never received Rs8.75 crore of the amount due under this agreement.

According to the FIR, Ali Khan of Aladdin Express DMCC proposed that two vessels Leela Mombasa and Xin Xin Hai 2 would be used exclusively by Mehta’s company for a few voyages at below-market freight rates, promising substantial profits. On this assurance, Mehta accepted container release orders for 775 containers on Leela Mombasa and 700 containers on Xin Xin Hai 2.

Relying on these commitments, Mehta’s company booked consignments of perishable goods such as sugar and rice for shipment to Djibouti. However, both vessels allegedly failed to arrive in India on time. Delays resulted in spoilage of cargo, causing significant financial losses and straining relations with Mehta’s clients.

For the Xin Xin Hai 2 consignment, after containers were loaded at Kandla Port, Mehta learned that ALX Shipping lacked funds to pay vessel dues and fuel expenses. Fearing cargo damage and having already accepted customer bookings, Mehta’s firm transferred USD 875,000 (Rs7.61 crore) via NEFT to ALX Shipping. Only then did the vessel sail forward.

Although the Leela Mombasa voyage was eventually completed and Mehta was supposed to earn USD 125,000 (Rs1.08 crore) in profit, he alleges that ALX Shipping never paid him this amount.

Convinced that he had been systematically cheated, Mehta lodged a police complaint. Based on his complaint, the Ghatkopar police have registered the case under sections 316(2), 316(5), 318(4) and 61(2) of the Bharatiya Nyaya Sanhita (BNS). Police officials said further investigation is underway.

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