A special CBI court in Mumbai has acquitted former Central Excise Inspector Vasudeo Mhapsekar and his wife in a disproportionate assets case registered in 2007. The court found shortcomings in the CBI’s calculations and evidence, including its treatment of income, service benefits, bank accounts, property and family assets.

The court found shortcomings in the CBI’s calculations of the couple’s income, expenditure and assets while acquitting them | Representational Image

Mumbai, October 2, 2026: The special CBI court has, after 17 years, acquitted Vasudeo Mhapsekar, former Inspector, Central Excise, Thane-I Commissionerate, and his wife, Assistant Administrative Officer, Life Insurance Corporation of India Ltd. (LIC), in a disproportionate assets case lodged in 2007.

As per the prosecution case, during the check period from January 1, 2000, to December 31, 2007, the couple's salary and other income from legitimate sources was Rs 6.3 lakh, while they had allegedly amassed disproportionate assets to the tune of Rs 16.40 lakh. The prosecution claimed that prior to the check period, the assets of Vasudeo were nil, while the assets of his wife, Shilpa, were Rs 41,711.

Defence Challenges CBI Calculations

The defence lawyer, P.D. Sawardekar, had countered the claim of the prosecution and contended that the couple had been serving in LIC since 1993. Vasudeo was appointed in Central Excise in 1994, but still the CBI had taken his income as on January 1, 2000, as nil, the defence argued.

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The CBI had wrongly made calculations of the income, expenditure and joint income of accused Nos. 1 and 2 and the parents of accused No. 1. The Investigating Officer had suppressed material records favourable to the accused and produced the unfavourable records, the defence had contended.

Court Finds Flaws In Calculations

The court considered the contentions raised by the defence and found several flaws in the calculations made by the prosecution.

The court said, "It has failed to produce and prove complete account statements of accused. It has failed to consider the accrued interest, dividend, allowances and other service benefits, such as travelling allowances, and other benefits etc. of both accused. It has wrongly considered the joint income, expenses and assets of parents of Vasudeo."

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"It has failed to prove the payment of consideration amount of the Flat by the couple, and the document of title. It has failed to produce and prove complete account statements of accused," the court said while acquitting them.

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