Mumbai: Special CBI Court Acquits Former Central Excise Inspector, Wife In ₹16.40-Lakh Disproportionate Assets Case

Mumbai, October 2, 2026: After 17 years, a special CBI court has acquitted Vasudeo Mhapsekar, a former Central Excise Inspector, and his wife, Shilpa, an Administrative Officer at Life Insurance Corporation of India Ltd. (LIC). Allegedly, the couple amassed disproportionate assets worth Rs 16.40 lakh during the period from 2000 to 2007, according to the prosecution.

The couple's salary and legitimate income during this period amounted to Rs 6.3 lakh. The prosecution claimed that Vasudeo had no assets prior to the check period, while Shilpa's assets were worth Rs 41,711. However, the defense lawyer, P.D. Sawardekar, challenged the CBI's calculations, arguing that the couple had been employed by LIC since 1993 and Vasudeo was appointed in Central Excise in 1994.

The defense contended that the CBI made incorrect calculations of the couple's income, expenses, and joint income, as well as those of the couple and their parents. The court found several flaws in the prosecution's calculations, including the failure to provide complete account statements, consider accrued interest, dividends, allowances, and service benefits, wrongly considering the joint income, expenses, and assets of the couple's parents, and failing to prove the payment of the flat purchase amount by the couple along with the document of title.