Allcargo Logistics’s wholly owned subsidiary, ALX Shipping Agencies India, has filed complaint against its own CEO and a business associate for alleged financial irregularities.
According to a regulatory filing, the complaint filed with the Economic Offences Wing (EOW), Mumbai seeks criminal proceedings against Sandeep Bakshi, CEO of ALX Shipping Agencies, and Vishal Mehta, owner and promoter of Rushabh Sealink and Logistics, a customer of Aladin Express DMCC for which ALX works as an exclusive agent.
However, Vishal Mehta has also filed separate complaints against multiple entities, including ALX.
Company flags unauthorised deals worth Rs 10 crore
ALX said it had received a legal notice from Vishal Mehta demanding large monetary claims. Following this, a preliminary internal investigation revealed alleged irregularities and a criminal conspiracy involving Bakshi and Mehta.
The company alleged that the two deliberately attempted to make ALX liable for payments to Rushabh Sealink by signing unauthorised agreements amounting to Rs 10 crore, which was freight advance paid to a shipping line and later settled through various voyages.
Company seeks deeper probe, cites defamation claims
“Allcargo continues to carry out further investigation. The complaint prays for investigation in the matter by authorities to take all necessary actions under applicable provisions of the Bharatiya Nyaya Sanhita, 2023, including but not limited to acts of criminal defamation by Vishal Mehta through baseless statements to media,” the company said in its filing.
Allcargo clarified that there has been no impact on its financial, operational or other activities due to the issue.