ED raids at former Lodha developers director; fraud linked to over Rs 85 crore

The Enforcement Directorate (ED) is currently conducting searches at 14 locations including his home and offices across India’s financial city Mumbai in a money laundering probe against former Lodha Developers Ltd director Rajendra Lodha. The complaint alleged fraudulent undervaluation and concealment in multiple land transactions. The search comes after an FIR was filed by Lodha Developers Ltd (now Macrotech Developers), alleging that Rajendra Lodha misused his position between 2013 and 2025 to defraud the company of around Rs 85 crore. He resigned after the company's ethics committee reviewed his conduct, an official said.

The complainant claimed that Lodha misused his official position to cheat the company. He was later arrested in the month of September this year by the Mumbai Police Crime Branch. Investigators say, during his tenure as a company director, Lodha was allegedly involved in bogus land acquisition, reselling the land to Lodha Developers, selling the company’s land to other builders for a highly deflated price, and other fraudulent activities, causing Rs 85 crore loss. Further investigation is underway and searches are going on to find his crime traces.