Educational Institute Files Fraud Complaint Against Lodha Director and Son
Mumbai: Following the recent legal troubles of Rajendra Lodha, a former whole-time director of Lodha Developers Ltd, and his son Sahil, an educational institute has now added to the allegations. NBP Edutech Infratech LLP, a relatively new entity formed in 2022, has filed a fraud complaint against the duo, accusing them of misleading the institute in a land deal involving prime property in Dombivli.
NBP Edutech Infratech LLP, established by Mihir Rajesh Narvekar, Achyut Kud Sawantbhonsale, and Prachiti Vikas Patil, included Sahil Lodha as a partner at the insistence of his father Rajendra. Rajendra Lodha had promised to provide support in land purchase, obtaining necessary permissions, and construction. The group purchased a 3,630 square meter plot at Bhopar village near Lodha Panacea from Macrotech in February 2023 for Rs 2.75 crore.
All approvals for the land deal were routed through Macrotech vendors, with the Lodhas claiming to have reimbursed the company. However, the investors from NBP Edutech Infratech LLP allege that no clear records have been provided to them. They were informed that the land was reserved for educational purposes, which added to their suspicions.
The partners of NBP Edutech Infratech LLP stated that after an FIR was registered against Rajendra Lodha, they began to suspect that Macrotech may not have received the full settlement for these transactions. In a letter to Macrotech, NBP Edutech Infratech LLP emphasized their willingness to provide full support, stating, 'If any irregularities happened in Macrotech Developers Ltd accounts due to Rajendra and Sahil, we are not aware of it. The company should do its necessary investigations, and NBP is willing to provide full support as we strongly believe that proper clarity and accountability must be maintained to safeguard the LLP and its partners.'
The city crime branch recently arrested Rajendra Lodha on the complaints of his alleged role in a large-scale fraud of over Rs 85 crore. Police have recorded statements from 29 witnesses, including 10 under Section 164 of the Criminal Procedure Code (CrPC) before a magistrate. A local court extended the judicial custody of Rajendra Lodha on Monday.
This latest complaint by NBP Edutech Infratech LLP adds another layer of complexity to the ongoing legal saga involving the Lodha family and their business dealings. The case is being closely monitored by legal authorities and stakeholders, as the implications could have far-reaching effects on the real estate and educational sectors.
