Former Lodha Developers director Rajendra Lodha has been arrested for allegedly defrauding the company of ₹85 crore through fraudulent land deals. He is in police custody until September 23.
Mumbai: Ex-Director Accused of Fraudulent Land Deals
Rajendra Lodha, a former director of Lodha Developers Ltd, has been arrested by Mumbai Police for allegedly defrauding the real estate company of ₹85 crore. The arrest was carried out on Wednesday by the crime branch’s property cell, following a detailed investigation into questionable land transactions.
According to officials, Lodha allegedly abused his position in the company to engage in fraudulent land dealings. He is accused of acquiring land through deceptive practices, reselling it to Lodha Developers at inflated rates, and selling company-owned land to other builders at undervalued prices. The alleged activities caused a financial loss of around ₹85 crore to the firm.
Ethics Committee Triggered Resignation
Lodha served as a director of Lodha Developers from September 2013 until August 18, 2025. His resignation came shortly after the company’s ethics committee reviewed his conduct and raised serious concerns.
A company statement confirmed his exit:
“At the company’s request, Mr. Rajendra Lodha resigned from all positions held within the organisation on August 17, 2025. For transparency, we note that he is a distant relative (fourth-degree) of the company’s Managing Director and CEO. Lodha Developers maintains a strict zero-tolerance policy towards any misconduct, irrespective of seniority or position.”
Investigation and Custody
The case was registered at NM Joshi Marg police station. Police revealed that Lodha was taken into custody from his residence in Worli and produced before a court, which remanded him to police custody until September 23.
Investigators are now scrutinizing financial records, land transactions, and agreements linked to Lodha’s tenure. The authorities are also probing whether other individuals were involved in the scheme.
Company Reiterates Zero-Tolerance Policy
Lodha Developers has assured stakeholders that it will fully cooperate with the ongoing investigation. The company emphasized that any misconduct, regardless of personal connections or seniority, will be dealt with firmly.
Key Highlights
- Who: Former Lodha Developers director Rajendra Lodha
- Accusation: Fraudulent land transactions and misuse of official position
- Financial Loss: Approx. ₹85 crore
- Resignation: August 17, 2025, after ethics committee review
- Custody: Remanded till September 23, 2025
- Company Stand: Zero tolerance towards misconduct
The arrest of Rajendra Lodha, a former director of Lodha Developers Ltd, has sent shockwaves through the real estate sector. Accused of defrauding the company of ₹85 crore through land-related fraud, Lodha now faces a detailed police investigation. His resignation, just weeks before his arrest, followed an internal ethics review. As the case unfolds, the company has reiterated its strict stance on ethical practices and assured full cooperation with law enforcement.