Former Lodha Developers Director Rajendra Lodha Arrested For ₹85 Crore Fraud Case. Details Here

(MENAFN- Live Mint) A former director of a leading real estate firm was arrested on Wednesday for allegedly misusing his position to defraud the company of ₹85 crore, PTI reported, citing Mumbai Police.

The accused, identified as Rajendra Lodha, served as a director of Lodha Developers Ltd from September 2013 until 18 August 2025. He resigned following the company's ethics committee review of his conduct, an official told the news agency.

The complainant alleged that Lodha abused his official position to deceive the company.

The officer stated that Lodha's alleged involvement in the fraud was revealed during the investigation of a case registered at the NM Joshi Marg police station.

He was taken from his residence in Worli by the property cell of the crime branch, a senior officer told the publication.

He appeared in court, where he was remanded in police custody until September 23, the official added.

As the director of the company, Lodha was allegedly involved in fraudulent land acquisition, reselling the land to Lodha Developers, selling the company's land to other builders at a significantly undervalued price, and other deceptive activities, resulting in a loss of ₹85 crore, as per the FIR.

The official said that further investigation is underway.

Speaking to the case, Lodha Developers said in a statement,“The company maintains a strict zero-tolerance policy towards any misconduct, irrespective of the seniority or position of the individual concerned.”

The company further added,“At the company's request, Mr Rajendra Lodha resigned from all positions held within the organisation on August 17, 2025. For the sake of transparency, we note that he is a distant relative (fourth-degree) of the company's Managing Director and CEO.”

(With inputs from agencies.)

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