ED Seizes ₹59 Crore in Mumbai Search Operations Linked to Lodha Developers Fraud
The Directorate of Enforcement (ED) has seized and frozen movable assets worth approximately ₹59 crore during search operations in Mumbai. The action is part of an ongoing probe into alleged fraud at Lodha Developers.
MumbaiLodha DevelopersEdFraudAsset SeizureReal Estate MumbaiNov 14, 2025
According to the ED, the searches resulted in the seizure of cash, bank balances, fixed deposits, digital devices, incriminating documents, and details of immovable assets valued at several crores.
The money-laundering investigation stems from FIRs filed by Mumbai Police against Lodha and his associates under various sections of the Bharatiya Nyaya Sanhita (BNS), 2023. The FIRs allege cheating, abuse of official position, unauthorized sale of assets, and fabrication of documents that caused wrongful losses of more than ₹100 crore to Lodha Developers Ltd (LDL), a listed company.
The ED’s investigation has found that Lodha allegedly diverted funds and assets of Lodha Developers through unauthorized sale and transfer of company-owned properties at undervalued rates to proxy entities connected to him, without Board approval. He is also accused of fabricating inflated land purchase MoUs and siphoning off the inflated portions as cash through sellers.
The agency said Lodha, along with related persons and entities, accumulated assets through these activities, resulting in significant losses to the company. Further investigation is underway.
Frequently Asked Questions
What is the total amount of assets seized by the ED in Mumbai?
The ED has seized and frozen movable assets worth approximately ₹59 crore.
What is the main reason for the ED's investigation into Lodha Developers?
The main reason for the investigation is the alleged fraud involving the unauthorized sale and transfer of company-owned properties and the fabrication of documents, causing wrongful losses of more than ₹100 crore to Lodha Developers Ltd (LDL).
What specific actions did Lodha and his associates allegedly take to commit the fraud?
Lodha and his associates allegedly diverted funds and assets of Lodha Developers through unauthorized sale and transfer of company-owned properties at undervalued rates to proxy entities connected to him, without Board approval. They also fabricated inflated land purchase MoUs and siphoned off the inflated portions as cash through sellers.
Under which act did the ED conduct the search operations?
The ED conducted the search operations under the Prevention of Money Laundering Act (PMLA), 2002.
What is the current status of the investigation?
The investigation is ongoing, and further actions are expected as the ED continues to gather evidence and follow leads.
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