Mumbai Police Arrests Former Lodha Group Director in ₹85 Crore Fraud Case
Mumbai Police’s Crime Branch has arrested Rajendra Lodha, a relative of real estate tycoon Mangalprabhat Lodha, in connection with an alleged ₹85 crore fraud at Lodha Developers Pvt. Ltd.
MumbaiFraudLodha GroupReal EstatePolice CustodyReal Estate MaharashtraSep 18, 2025
This is the second major controversy to hit the Lodha group. A few years ago, the sons of Mangal Prabhat Lodha, Abhishek and Abhinandan, had a fallout, leading to a split in the family business.
The case was registered on September 16 at the N. M. Joshi Marg police station under various sections of the Indian Penal Code (IPC) and the Bombay Rents, Hotel and Lodging House Rates Control Act (BNS Act). The complaint was filed by Monil Gala, the head liaisoner at Lodha Developers Pvt. Ltd.
The FIR alleges massive financial irregularities, illegal land sales, misuse of company position, and fraudulent transactions causing losses of over ₹85 crore to the company. Rajendra Lodha, who has been associated with the company since 1990 and became a director in 2015, is accused of misusing his position to authorize fake land deals and fraudulent agreements.
He is alleged to have created false Memorandums of Understanding (MoUs), undervalued prime properties, and diverted large sums of money for personal benefit. For instance, Lodha allegedly sold land worth ₹10 crore in Ambernath for just ₹88 lakh and undervalued another property in Panvel, causing losses of over ₹6.25 crore to the company.
The company also alleged that Lodha, along with his son Sahil Lodha and brokers, misrepresented ownership of land in Panvel to siphon off ₹3.03 crore in cash. Investigations revealed suspicious Transfer of Development Rights (TDR) sales in Kalyan-Dombivli, where Lodha allegedly carried out 35 transactions at below-market rates, causing losses of nearly ₹20 crore.
In July 2025, when the company sought details of Lodha’s personal assets, he allegedly refused to disclose the information and threatened to resign. Later, through his associate Bharat Narosana, Lodha allegedly issued threats to Abhishek Lodha, the company’s Managing Director, warning that he could damage both the company and himself, comparing himself to a “suicide bomber.”
Lodha subsequently resigned as a full-time director and submitted asset details of himself, his wife Nitu, and his son Sahil. The company alleged that the disclosures exposed massive financial irregularities and benami dealings.
During the hearing, the counsel for the crime branch argued that Rajendra Lodha systematically defrauded Lodha Developers by abusing his position as director and siphoning off at least ₹85 crore. Investigators told the court that further probe was required to trace whether more assets were acquired using illicit funds and to scrutinize the undervalued TDR transactions.
The court granted police custody until September 23 to allow for detailed interrogation and recovery of evidence. The case has sent shockwaves through Mumbai’s real estate sector, with investigators suspecting that the fraud amount may exceed the ₹85 crore estimated so far.
Frequently Asked Questions
Who is Rajendra Lodha?
Rajendra Lodha is a former director of Lodha Developers Pvt. Ltd. and a relative of real estate tycoon Mangalprabhat Lodha.
What is the alleged fraud amount?
The alleged fraud amount is ₹85 crore, though investigators suspect it may be higher.
When was the case registered?
The case was registered on September 16 at the N. M. Joshi Marg police station.
What are the main allegations against Rajendra Lodha?
Rajendra Lodha is accused of massive financial irregularities, illegal land sales, misuse of company position, and fraudulent transactions causing losses of over ₹85 crore to the company.
What is the status of the investigation?
The court has granted police custody until September 23 to allow for detailed interrogation and recovery of evidence.
Related News Articles
Pune's PCNTDA Residents to Get Freehold Status, Promises Maharashtra Minister Uday Samant
Maharashtra Minister Uday Samant has assured PCNTDA residents that a decision will be made on freehold status without causing financial loss to the state government.
Veriff Boosts Biometric Security to Combat Account Takeover Fraud
Biometric authentication, account takeover fraud, identity verification, facial recognition, fraud prevention
Inside Mumbai's Luxurious Abodes: A Glimpse into the Homes of India's Elite
Mumbai, often dubbed the 'Billionaire Capital of Asia,' boasts a real estate landscape that mirrors its status as India's commercial and financial hub. From opulent mansions to sleek high-rises, the city is home to some of the most stunning and expensive
Kapil Sharma: From Rs 500 Salary to Rs 300 Crore Net Worth
Kapil Sharma, the king of Indian comedy, has come a long way from his humble beginnings. Today, he owns luxurious properties and cars, and his net worth is estimated at Rs 300 crore. Explore his inspiring journey from rags to riches.
Mumbai and Delhi Emerge as Leading Luxury Real Estate Markets in Asia-Pacific
India's real estate sector is witnessing a significant boom, driven by robust economic growth, infrastructure improvements, and changing lifestyle trends. Mumbai and Delhi, in particular, are ranking among the fastest-growing luxury real estate markets in
Important Steps to Ensure Your Apartment is Free from Legal Issues Before Purchase
MahaRERA has recently directed a real estate developer near Mumbai to disclose details about any pending litigation to the public. This highlights the importance of checking for legal issues before buying an apartment.