An influential Asian family with longstanding dominance in the shipping and shipbreaking industry is now at the center of criminal investigations spanning Dubai and the Far East.
International media, citing authorities in at least three countries, report that brothers Sanjay and Gaurav Mehta, who control Best Oasis Ltd in Dubai and Priya Blue Industries in Gujarat, India, are facing allegations of money laundering and involvement in Russia’s sanctioned oil trade.
Despite cultivating an image of sustainability through environmental certifications and frequent participation in global ESG summits, investigators allege the Mehtas’ operations have relied on opaque financial dealings, high-risk ship dismantling practices, and political connections that shield them from accountability.
The family first came under international scrutiny in 2006, when Priya Blue dismantled the toxic vessel “Blue Lady,” which carried over 1,200 tons of asbestos and radioactive material, despite widespread protests led by Greenpeace. Years later, they controversially acquired and scrapped the “Exxon Valdez,” infamous for one of the world’s worst oil spills, under the rebranded name Oriental Nicety.
According to investigators, the Mehtas’ current business practices have become more discreet but equally contentious. In 2025 alone, Best Oasis is alleged to have dismantled several vessels tied to sanctioned Iranian and Houthi-linked networks engaged in oil smuggling and arms trafficking.
These ships, including the Nolan, Bluefins, Contract II, and Gama II, were processed at the Alang shipbreaking yards in Gujarat under temporary leases granted to proxy firms, which expired shortly after dismantling. Authorities claim this method left minimal regulatory oversight and little traceable documentation.
Sources further allege that financial transactions for these deals bypassed official banking systems, with payments made through offshore transfers or large-scale cash exchanges. The use of intermediaries and proxy approvals reportedly enabled the companies to avoid scrutiny from regulators in both India and Dubai. Investigators also suggest that political patronage played a role in facilitating swift approvals for operations. While Union Minister Mansukh Mandaviya and Gujarat State Minister Jitu Vaghani have been linked to providing support, no direct evidence of financial benefit has emerged.
Maritime experts argue that the Mehtas’ latest ventures amount to little more than reputational whitewashing. Best Oasis has recently rebranded and launched a joint initiative in Japan with businessman Hiroshi Abe, presenting itself as a responsible recycling partner for Japanese shipowners.
However, Tokyo-based consultant Mariko Fujita observed that the underlying ownership and operating structure remain unchanged, while the same network of brokers and yard handlers in Alang continues to manage sanctioned ship arrivals.
