Thane: The Thane Sessions Court has rejected an application filed by a 40-year-old woman, Mehnaz Mohammad Amjad Shaikh, seeking the return of 1.3 kg of gold, 3 kg of silver, and Rs 7 lakh in cash. The assets were seized by the police during an investigation into an alleged large-scale financial fraud at Banegar High School in Mira Road, where she worked as a clerk.
According to the prosecution, Shaikh allegedly misappropriated Rs 5.68 crore between 2014 and 2023. The police claim that the seized valuables were acquired using the proceeds of the crime. In her defense, Shaikh argued that the gold and silver belonged to her and that her husband was involved in the gold business. However, the court found that she failed to provide sufficient proof of ownership.
The magistrate noted that the couple’s combined income did not justify such a large accumulation of wealth. Shaikh earned a monthly salary of Rs 18,000, while her husband’s annual income was less than Rs 5 lakh. Additionally, she was unable to produce a verified copy of a leave and license agreement, which she claimed justified the possession of the seized amount.
Observing that the property appeared to have been allegedly acquired through fraudulent means, the court refused to return the valuables. The sessions court upheld the magistrate’s decision, dismissing Shaikh’s revision application and stating that in cases where assets are linked to criminal proceeds, exceptions must be made.
