Probe Deepens: ED Targets Rajendra Lodha & Co. with ₹271 Crore Seizure in Lodha Developers Fraud
(Judicial Quest News Network)
Mumbai, March 26: The Directorate of Enforcement (ED), Mumbai Zonal Office, has provisionally attached immovable assets worth approximately ₹271.48 crore under the provisions of the Prevention of Money Laundering Act, 2002 in connection with an ongoing money laundering investigation against Rajendra Narpatmal Lodha and others.
The attached properties comprise land parcels situated in the Panvel and Shahapur talukas of Maharashtra.
According to the agency, the investigation stems from FIRs registered by Mumbai Police under provisions of the Bharatiya Nyaya Sanhita, 2023, relating to allegations of cheating, abuse of official position, unauthorised sale of assets, and fabrication of documents, resulting in wrongful loss to Lodha Developers Ltd, a publicly listed entity.
The ED stated that its probe has revealed that Lodha allegedly siphoned off company funds and assets through unauthorised sale and transfer of immovable properties at undervalued prices to proxy entities and associates, without requisite approval from the Board of Directors.
It is further alleged that fabricated Memorandums of Understanding (MoUs) were used to inflate land purchase values, with the excess amounts subsequently diverted and misappropriated.
The agency has also alleged that Lodha, in collusion with associates and related entities, amassed substantial assets through fraudulent means, thereby causing significant financial loss to the company.
Earlier in the investigation, the ED conducted search operations at 14 locations across the Mumbai region on November 12, 2025, leading to the seizure and freezing of assets worth approximately ₹88 crore.
With the latest attachment, the total value of assets seized or attached in the case has risen to around ₹359.48 crore.
The ED further informed that Lodha was arrested on February 12, 2026, and is presently in judicial custody.
Further investigation in the matter is ongoing.
