Former director of Lodha Developers arrested for 85 crore fraud

A former director of a distinguished actual property agency was arrested on Wednesday (September 17, 2025) for allegedly misusing his official place to defraud the corporate of ₹85 crore, Mumbai Police stated.

The accused, recognized as Rajendra Lodha, labored as a director of Lodha Developers Ltd from September 2013 to August 18, 2025. He resigned after the corporate’s ethics committee reviewed his conduct, an official stated.

The complainant claimed that Lodha misused his official place to cheat the corporate.

His alleged involvement within the fraud got here to gentle through the investigation of a case registered on the NM Joshi Marg police station, the officer stated.

He was picked up from his residence in Worli by the crime department’s property cell, a senior officer stated.

He was produced in a court docket, which remanded him in police custody until September 23, the official stated.

During his tenure as an organization director, Lodha was allegedly concerned in bogus land acquisition, reselling the land to Lodha Developers, promoting the corporate’s land to different builders for a extremely deflated worth, and different fraudulent actions, inflicting ₹85 crore loss, as per the FIR.

Further investigation is underway, the official added.

Reacting to the event, Lodha Developers stated in a press release, “The firm maintains a strict zero-tolerance coverage in direction of any misconduct, no matter the seniority or place of the person involved.”

“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.”