Mumbai (Maharashtra) [India], December 1 : The Mumbai Police's Economic Offences Wing (EOW) registered a multi-crore fraud case against ALX Shipping Agencies India, a 100 per cent subsidiary of Allcargo Logistics Ltd, along with senior executives of Dubai-based Aladdin Express DMCC.
The FIR, initially registered at Ghatkopar Police Station and later transferred to the EOW, names the CEO of ALX Shipping Agencies India Pvt. Ltd.; Chairman of Aladdin Express DMCC, Dubai; CEO of Aladdin Express DMCC, Dubai; and the companies ALX Shipping Agencies India Pvt. Ltd. (India) and Aladdin Express DMCC (Dubai) as accused.
The FIR alleges cheating, misappropriation, and diversion of funds amounting to Rs 18.33 crore from a Mumbai-based shipping and logistics operator.
According to the complaint, the accused allegedly collected funds despite knowing about outstanding dues at international ports, issued false documents, and diverted funds for unauthorised purposes. The total alleged financial loss is Rs 18.33 crore.
Vishal Pankaj Mehta, owner of Rishabh Sealink and Logistics Pvt. Ltd., alleged that he was cheated over multiple business transactions. He claimed he invested in ALX Shipping and related companies, expecting high returns, but only a portion of his money was returned.
Mehta also alleged that shipments he booked through ALX and Aladdin Express were delayed or never delivered, causing damage to goods and financial losses to his company and customers.
He said, "They delayed the shipments by not processing them, causing significant losses to my customers. I had placed my trust in the company, but the company betrayed both my money and my customers' trust. They held back several of my shipments. This resulted in a total financial loss of Rs 18,33,45,544."
The case has been filed under the provisions of the Bharatiya Nyaya Sanhita (BNS).
Meanwhile, ALX Shipping Agencies (India) Pvt. Ltd. clarified that the issue arises from unauthorised actions by a former CEO, who was removed after an internal review. The company had already filed a complaint with the Economic Offences Wing against him and others for acts carried out without the knowledge or approval of the management or Board.
"The latest development is being monitored internally, and ALX is fully cooperating with the authorities. As the investigation is ongoing, the company will not comment further and continues to follow strict processes and maintain high service standards," as per the official statement from the company.