Former Real Estate Director Arrested in Rs 85 Crore Fraud Case
A former director of a prominent real estate firm, Rajendra Lodha, was arrested for allegedly misusing his position to defraud the company of Rs 85 crore. The investigation is ongoing.
Real EstateFraudArrestLodha DevelopersRajendra LodhaReal Estate MumbaiSep 17, 2025
The complainant claimed that Lodha misused his official position to cheat the company. His alleged involvement in the fraud came to light during the investigation of a case registered at the NM Joshi Marg police station, the officer said. He was picked up from his residence in Worli by the crime branch's property cell, a senior officer added.
He was produced in a court, which remanded him in police custody till September 23, the official said. During his tenure as a company director, Lodha was allegedly involved in bogus land acquisition, reselling the land to Lodha Developers, selling the company’s land to other builders for a highly deflated price, and other fraudulent activities, causing Rs 85 crore loss, as per the FIR.
Further investigation is underway, the official added. Reacting to the development, 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.' At the company's request, Mr Rajendra Lodha resigned from all positions held within the organization 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.
Frequently Asked Questions
Who was arrested for the fraud?
Rajendra Lodha, a former director of Lodha Developers Ltd, was arrested for allegedly misusing his official position to defraud the company.
What was the amount of the alleged fraud?
The alleged fraud caused a loss of Rs 85 crore to the company.
When did Rajendra Lodha resign from his position?
Rajendra Lodha resigned from all positions held within the organization on August 17, 2025.
What were the alleged fraudulent activities?
Lodha was allegedly involved in bogus land acquisition, reselling the land to Lodha Developers, selling the company’s land to other builders for a highly deflated price, and other fraudulent activities.
What is Lodha Developers' policy on misconduct?
Lodha Developers maintains a strict zero-tolerance policy towards any misconduct, irrespective of the seniority or position of the individual concerned.
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