Mumbai, March 30: The Enforcement Directorate (ED) has temporarily seized real estate worth approximately ₹271.48 crore under the Prevention of Money Laundering Act (PMLA), 2002, against Rajendra Narpatmal Lodha and others.
This action is part of an ongoing investigation into fraud linked to Lodha Developers Limited, a publicly listed company. The properties seized are located in Panvel and Shahpur talukas of Maharashtra.
The ED initiated its investigation based on multiple FIRs filed by the Mumbai police against Rajendra Narpatmal Lodha and others for various offenses, including fraud, misuse of position, unauthorized sale of property, and creating false documents to cause harm.
The investigation revealed that Rajendra Narpatmal Lodha was involved in the unauthorized sale of funds and assets belonging to Lodha Developers Limited. He also transferred the company’s real estate at undervalued prices to proxy entities and associates. Furthermore, he participated in creating Memorandums of Understanding (MOUs) to purchase land at inflated prices without board approval, subsequently misusing the company’s funds by cashing out through sellers of the inflated portions.
It was found that Rajendra Lodha, along with his close associates and entities, fraudulently accumulated assets, causing significant losses to Lodha Developers Limited.
Earlier, on November 12, 2025, the ED conducted search operations at 14 locations in Mumbai under the PMLA, freezing or seizing assets worth approximately ₹88 crore. To date, a total of about ₹359.48 crore in assets has been seized in this case. Recently, on February 12, the ED arrested Rajendra Lodha, who is currently in judicial custody. The investigation is ongoing.
My name is Bhupendra Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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