Former director of the front real estate company was arrested on Wednesday for alleged abuse of his position to cheat £85 Crore, reported PTI and quoted the Bombai police.
The defendant, identified as Rajendra Lodha, worked as Director of Lodha Developers LTD from September 2013 to 18 August 2025. After reviewing his behavior, he resigned from the Ethics Committee of the Company, told the official to the news agency.
The complainant claimed that the ship had abused his official position to deceive society.
The officer said that the alleged involvement of the boat in fraud was revealed during the investigation of the case registered at the NM police station Joshi Marg.
He was taken from his residence in the real estate of the Crime branch, a higher officer said.
He appeared in a court where he was transferred in police custody until 23 September, the official added.
As a company director, Lodha allegedly participated in fraudulent land and sold the land to Lodha developers, sold the company to other builders at a significantly undervalued price and other deceptive activities, resulting in loss £85 crore, according to fir.
The official stated that further investigations were underway.
In an interview in the event that Lipha developers stated in their statement: “Society maintains a strict policy of zero tolerance of any misconduct, regardless of the seniority or position of the individual.”
Rajendra Lodha, a distant relative of the CEO and CEO of the company, resigned from all positions in the company on August 17, 2025 after the company request.
“At the request of Rajendra Lodha, he resigned to all positions held in the organization of August 17, 2025. For transparency, we note that he is a distant relative (fourth grade) of the CEO and CEO of the company,” the company noted.
(With the entry from agencies.)
(Tagstotranslate) Real Estate Company (T) Rajendra Lodha (T) Developers Lodha (T) Fraud Gathering of Land (T) Police Binding
