Former Lodha Developers Director Rajendra Lodha Arrested in Rs 85 Crore Fraud Case

Former Lodha Director Apprehended in Mumbai

Rajendra Lodha, a former director of Lodha Developers Ltd (now known as Macrotech Developers Ltd), was arrested on Wednesday, September 17, 2025, by the Mumbai Police's Crime Branch. The arrest stems from an alleged Rs 85 crore fraud involving bogus land deals and other deceptive activities. Lodha, 59, was taken into custody from his residence in Worli, Mumbai. He has been remanded in police custody until September 23 as the investigation progresses.

Allegations of Extensive Financial Misconduct

The fraud allegations against Rajendra Lodha are comprehensive, detailing a pattern of misuse of his position. According to the First Information Report (FIR) registered at the NM Joshi Marg police station, Lodha, along with his son Sahil Lodha and several associates, is accused of large-scale fraud, misappropriation of assets, and criminal breach of trust.

Key alleged fraudulent activities include:

• Unauthorized Sales: Misusing his authority, which was primarily for land acquisition, to carry out unauthorized sales of company-owned properties.
• Undervalued Land Deals: Selling company land at significantly deflated prices. An example cited is a 1.46-acre Ambernath parcel, allegedly sold for Rs 88 lakh despite being valued at over Rs 10 crore.
• Illegal TDR Transactions: Engaging in illegal Transferable Development Rights (TDR) transactions, such as the alleged sale of over 7.15 lakh square feet of TDR in Bhopar village, Kalyan, causing a direct loss of approximately Rs 49 crore.
• Bogus Acquisitions and Resales: Involvement in bogus land acquisitions, where MoUs were signed for land never purchased, and the resale of previously acquired land back to Lodha Developers.
• Forged Documents: Allegedly forging agreements, MoUs, and other documents to facilitate these transactions.

The alleged fraudulent deals impacted properties in areas such as Panvel, Ambernath, and Kalyan, and also involved fake bookings and cash transactions within the company's Lodha New Cuffe Parade project.

Company's Stance and Internal Review

Rajendra Lodha served as a director of Lodha Developers Ltd from September 2013 until August 18, 2025. He resigned from all positions on August 17, 2025, at the company's request, following a review of his conduct by the company's ethics committee.

Lodha Developers confirmed the arrest and issued a statement affirming its 'strict zero-tolerance policy towards any misconduct, irrespective of the seniority or position of the individual concerned.' The company also clarified that Rajendra Lodha is a distant relative (fourth-degree connection) of its Managing Director and CEO, Abhishek Mangal Prabhat Lodha. The complaint against Lodha was filed by the company itself, leading to the police investigation and subsequent arrest.