Ex-Lodha Developers Director Arrested in ₹85 Crore Fraud
Rajendra Lodha, a former director of Lodha Developers Ltd, was arrested for allegedly committing fraud worth ₹85 crore, Mumbai Police said. He was taken into custody by the Crime Branch’s property cell from his residence in Worli after a case was registered at the NM Joshi Marg police station.
Role and Resignation
According to officials, Lodha held the director’s post from September 2013 until 18 August 2025. His conduct came under scrutiny during a review by the company’s ethics committee. Following this, he resigned from all his positions on 17-18 August 2025.
Details of Alleged Fraud
Investigators allege Lodha misused his official position for fraudulent land acquisitions. He reportedly sold land at undervalued rates, both to Lodha Developers and to other builders, causing an estimated loss of ₹85 crore to the company.
Legal Proceedings
Lodha has been remanded in police custody until 23 September for further investigation. Lodha Developers issued a statement stressing its zero-tolerance policy toward misconduct and highlighting that Lodha is a distant relative of the company’s Managing Director and CEO.
