MUMBAI : Months after a devastating fire razed over 200 small businesses and two popular restaurants at Bandra’s Link Square mall, major allegations of financial fraud, mismanagement, and safety violations have surfaced against the mall’s former managing committee.
Members of the Link Square Premises Cooperative Society Ltd have filed a formal complaint with the deputy registrar of cooperative societies, accusing the committee of long-term corruption, embezzlement, and creating a hostile environment for business owners. They also questioned the composition of the newly appointed board set up after the committee’s dissolution.
The April 29 blaze, which destroyed TAP Resto Bar and Global Fusion—both owned by the China Gate Group—brought longstanding issues to the forefront. The group approached the Bombay High Court seeking debris removal and a structural audit. Although the BMC directed the society to carry out repairs, no action was taken, prompting further legal intervention.
In their complaint, members alleged that for nearly two decades, office-bearers of the society, in collusion with certain officials, siphoned off around ₹30 crore through unauthorized contracts, fake billing, and cash dealings. They also accused the committee of illegally constructing and selling properties worth over ₹10 crore, evading GST and income tax, and disregarding fire safety protocols.
The complaint further claimed that NCP leader and former MLA Zeeshan Siddique, alleged to be the owner of the mall, was the central figure controlling all major decisions, running the society “illegally.”
On November 11, the deputy registrar dissolved the managing committee due to non-performance and appointed a three-member Board of Authorised Officers—including Ishwar Hubale as chairperson and Iqbal Shaikh and Naushad Farid Khan as members.
However, the new appointments sparked immediate protest. Advocate Yashraj Tongia, representing the China Gate Group, pointed out a conflict of interest, noting that board member Iqbal Shaikh is the husband of Tabassum Shaikh, the secretary of the dissolved committee. Members alleged the board has been formed to protect the former committee from action.
Questions have also been raised about why the registrar’s office failed to take action despite ongoing violations for 18 years.
When contacted, both Iqbal Shaikh and deputy registrar Adinath Dagde declined to respond to the allegations.
