ED Arrests Ex-Lodha Developers Director Rajendra Lodha In ₹85-Crore Money Laundering Case

The Enforcement Directorate on Thursday arrested Rajendra Lodha, a former director of Mumbai-based real estate firm Lodha Developers, in a money laundering case linked to an alleged ₹85-crore fraud. The arrest stems from a complaint filed by the company after it detected serious financial irregularities, following which Lodha was earlier taken into custody by the Mumbai Police.

Investigating agencies allege that Rajendra Lodha, along with other accused individuals, siphoned off large sums of money through intricate financial transactions. The case surfaced in September 2025 when Lodha Developers lodged a criminal complaint, prompting the Mumbai Crime Branch’s property cell to launch a probe. Subsequent investigations led to multiple arrests on charges including cheating, criminal breach of trust and conspiracy.

Officials claim that the accused orchestrated a scheme involving fake land purchases, resale of company-owned land and deliberate undervaluation of assets to divert funds. The probe has uncovered alleged embezzlement involving both cash and gold, with investigators pointing to large cash movements disguised as land transactions that caused substantial losses to the company.

Witness testimonies and documentary evidence have played a key role in the investigation. Seven witnesses have recorded statements before a magistrate, while around 40 others have spoken to the police. One crucial witness, Rajendra Lodha’s driver, reportedly told investigators that he collected ₹1 crore in cash from two locations in Mumbai and handed it over to Lodha, after which the money was deposited into his accounts.

Authorities also allege that a prime land parcel belonging to Lodha Developers was sold by Rajendra Lodha to a company owned by his son at a significantly undervalued price. Digital evidence recovered from his electronic devices is said to reveal records of extensive cash transactions and the use of benami entities to route funds. Investigators further claim that company land registered in the name of a former employee was sold without authorisation.

In a related development, CCTV footage allegedly showed Rajendra Lodha’s brother removing large bags from his residence, following which officials seized documents and cash ledgers from the brother’s premises. These materials are currently under analysis.

The ED, which had earlier conducted searches at several locations linked to the accused, obtained court permission to take Rajendra Lodha into custody while he was already in judicial custody in the earlier police case. He is expected to be produced before a special PMLA court for remand. Lodha Developers has stated that it is cooperating fully with the investigation, describing the alleged fraud as far larger than initially revealed.