Mumbai . The Enforcement Directorate (ED) has taken major action against Rajendra Lodha, former director of Lodha Developers Limited. On Wednesday, Rajendra Lodha’s premises in Mumbai were raided in connection with the money laundering investigation. This action is being taken against former director Rajendra Lodha in the case of fraud with Lodha Developers Limited Company. On Wednesday, ED raided 14 locations of Rajendra Lodha. The objective of the ED raids is to trace the proceeds of alleged crime and identify other entities linked to the transactions. However, no information regarding any recovery has been revealed yet. An FIR was lodged against Rajendra Lodha on behalf of Lodha Developers Limited (now Macrotech Developers), in which it was alleged that Rajendra Lodha defrauded the company of about Rs 85 crore by misusing his position between 2013 and 2025. In Kalyan’s Bhopar village, more than 7.15 lakh square feet of TDR was allegedly sold illegally, causing a direct loss of about Rs 49 crore.
Allegations were also made that they made unauthorized land deals, sold plots at throwaway prices and made fraudulent acquisitions. Additionally, lands in Panvel, Ambernath and Kalyan were grabbed through fraud, while the company’s flagship project, Lodha New Cuffe Parade, showed fraudulent bookings and cash transactions. Investigation revealed that Rajendra Lodha had forged agreements, MOUs and other documents to facilitate transactions.
Lodha Developers confirmed the development in an official statement. Rajendra Lodha had resigned from all posts on August 17 following the company’s order.
In September this year, Rajendra Lodha was arrested by the Crime Branch of Mumbai Police in this fraud case. The Property Cell of the Crime Branch of Mumbai Police made the arrest from his Worli residence.
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