Latest Markets Business BEEPS Earnings Personal Finance

Lodha Developers' Former Director Arrested In Rs 85-Crore Fraud Case

Rajendra Lodha, the accused, was taken into custody by the property cell of the Mumbai Crime Branch.

Soumil Kamat

The accused was produced in a court, which remanded him in police custody till Sept. 23 (Representative image: Unsplash)

The Mumbai Police on Wednesday arrested Rajendra Lodha, former director of Lodha Developers, for defrauding Lodha Developers Ltd. of approximately Rs 85 crore.

Lodha was taken into custody from his residence at Worli in central Mumbai by the property cell of the Mumbai Crime Branch, a senior police official was reported as saying by news agency PTI. His alleged involvement in the fraud came to the fore during the investigation, following which he was arrested, the official added.

The accused was produced in a court, which remanded him in police custody till Sept. 23, the official further said.

The case stems from a complaint lodged by Lodha Developers, one of India’s largest real estate firms. Lodha, 57, his son Sahil Lodha, and several associates of were accused of misappropriation of assets, and criminal breach of trust by the company.

Lodha had resigned from the post of director of Lodha Developers last month after the company’s ethics committee reviewed his conduct. Further probe in the case is underway, the official added.

Also Read: Lodha Developers Shares Open Higher After Rs 30,000-Crore MoU With Maharashtra

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."

In August, Lodha Developers announced that Rajendra Lodha has resigned as director of the company with effect from Aug 17, 2025. The resignation was requested from the company as certain matters related to his conduct are under review by the ethics committee.

"At the company’s request, Mr Rajendra Lodha resigned from all positions held within the organisation 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."

Also Read: Lodha Developers NCR Entry Plan: Buy At Least One Land Parcel In FY26 For First Housing Project

Watch LIVE TV, Get Stock Market Updates, Top Business, IPO and Latest News on NDTV Profit. Feel free to Add NDTV Profit as trusted source on Google.
GET REGULAR UPDATES
Add us to your Preferences
Set as your preferred source on Google
Beeps Img

Tariffs Pushing Up Prices, But Wider Impact Unclear, Says Powell After Fed Rate Cut

  • chevron-double-right US tariffs are increasing prices but their broader impact remains unclear, says Fed Chair Powell
  • chevron-double-right Rising jobless claims and higher unemployment influenced the Fed's decision to resume rate cuts
  • chevron-double-right Powell expects tariff-driven inflation to be short-lived despite current upward pressure on prices
More Beeps chevron-right

RECOMMENDED FOR YOU

Lodha Developers Shares Open Higher After Rs 30,000-Crore MoU With Maharashtra
timelogo Sep 12, 2025
Lodha Shares In Focus After Rs 30,000-Crore MoU With Maharashtra For Data Centre Parks
timelogo Sep 11, 2025
From Groceries To Ground: Zepto, Abhinandan Lodha Pitch '10-Minute' Land Delivery
timelogo Aug 18, 2025
Sushil Kumar Modi, Executive Director Finance, Lodha Group On Know Your Company
timelogo Jul 28, 2025

POPULAR

1
Tariffs Pushing Up Prices, But Wider Impact Unclear, Says Powell After Fed Rate Cut
2
Fed Resumes Rate-Cut Cycle After Nine Months With 25 Bps Reduction; Sees Two More This Year
3
Fed's First Rate Cut Of 2025 To Powell Speaking On Jobs, Tariffs, Inflation — Key Highlights
4
Wall Street Sees Muted Response To Fed Decision: Markets Wrap
5
Nokia Hires Intel Executive To Lead Push Into AI Data Centers