The Mumbai Police’s Property Cell has arrested Rajendra Lodha, a distant relative of former director and CEO of Lodha Developers Limited (LDL), Abhishek Mangal Prabhat Lodha, in a multi-crore rupee fraud case. He was presented in a Mumbai court, which remanded him to police custody.

This arrest follows an FIR registered at the NM Joshi Marg police station, which alleges that Lodha, his son Sahil, and several associates embezzled over 85 crore rupees from the company between September 2013 and August 2025 through fraudulent land deals, undervalued transactions, and fake acquisitions.

According to the FIR, Lodha also threatened to harm CEO Abhishek Lodha if any action was taken against him. This threat increased tension within the company’s top management.

Police say that Lodha, who oversaw land acquisition in Thane, Kalyan, and Panvel, misused his position to conduct transactions that benefited him and his associates. The scam came to light during the company’s internal audit when suspicious deals were uncovered. The company then initiated an internal investigation. Lodha resigned from his director and promoter positions after refusing to disclose his assets and investments.

Key fraud cases registered in the FIR-

Fake land acquisition (3.03 crore rupees): An MoU was signed for land in Panvel but no purchase was made. The amount was adjusted against a flat already booked by the seller.

Resale of previously purchased land (2.65 crore rupees): Land purchased in 2013 was illegally transferred and resold to Lodha Developers for 2.65 crore rupees.

Selling company land at undervalued prices (27 crore rupee loss): 1.46 acres of land in Ambernath was sold for only 88 lakh rupees, while its actual value was over 10 crore rupees. The government later acquired it for 10.88 crore rupees.

Usha Enterprises deal (10 crore rupee loss): Land worth over 10 crore rupees was sold to Usha Enterprises for 48 lakh rupees, which is allegedly a benami company linked to Rajendra and Sahil Lodha. 17 crore rupees were circulated through cash and bank transfers.

NBP Edutech Infratech deal (6.25 crore rupee loss): Land worth at least 9 crore rupees was sold to a company where Sahil Lodha was a founding partner for only 2.75 crore rupees.

Undervaluation of TDR: 7.15 lakh square feet of Transfer of Development Rights (TDR) were sold in 35 transactions at rates at least 30% below market value. The difference amount was taken in cash.

Fake payment to broker: 2 crore rupees were paid to an alleged broker, which were later returned to Rajendra Lodha in cash.

9 accused named in FIR

The FIR names a total of 9 accused, including Rajendra and Sahil Lodha. They have been charged under IPC sections 406 (criminal breach of trust), 409, 420 (cheating), 120B (criminal conspiracy) with section 34, and relevant sections of the Bharatiya Nyaya Sanhita.

NM Joshi Marg police station

The NM Joshi Marg police station is a functional police station in Mumbai, India. It is historically significant as the site of a major industrial labor protest in 1928, which led to the death of textile worker Narayan Meghaji Joshi, after whom the street and station are now named.

Thane

Thane is a historic city in Maharashtra, India, located on the northeastern side of Mumbai. It is one of the oldest cities in the state, with a history dating back to the pre-Portuguese era, and was historically known as ‘Shreesthanak’. The city is noted for its ancient temples, colonial-era structures like the Thane Fort, and its modern development as a major residential and industrial suburb.

Kalyan

Kalyan is an ancient city located in the Indian state of Maharashtra, near Mumbai. Historically, it was an important trading port and a major urban center during the medieval period under various dynasties, including the Mauryas and the Mughals. Today, it is a significant part of the Mumbai Metropolitan Region, known for its historical landmarks like the Durgadi Fort and its bustling local markets.

Panvel

Panvel is a historic city in Maharashtra, India, located near Mumbai. It was an important trading port and administrative center during the 18th century under the Maratha Empire and later the British Raj. Today, it is a major suburban hub and the gateway to nearby hill stations like Matheran.

Ambernath

Ambernath is a town in Maharashtra, India, best known for the 11th-century Shiva temple, the Ambreshwar Shiva Temple. This ancient Hindu temple, built in the Hemadpanthi architectural style during the reign of the Shilahara dynasty, is a protected monument of national importance.

Usha Enterprises

I am unable to provide a summary for “Usha Enterprises” as it does not appear to be a recognized cultural site, historical landmark, or place of significant public interest. It is likely a private business or commercial entity for which no notable historical or cultural information is publicly available.

NBP Edutech Infratech

I am unable to provide a summary for “NBP Edutech Infratech” as it does not appear to be a recognized public place, historical landmark, or cultural site. It seems to be the name of a private company or organization, and no significant historical or cultural information about it is publicly available.

Lodha Developers Limited

Lodha Developers Limited is a prominent Indian real estate development company, not a cultural site. Founded in the 1980s by Mangal Prabhat Lodha, it has grown to become one of the country’s largest developers, known for its residential, commercial, and township projects, primarily in Mumbai.