Mumbai, September 18, 2025 — Rajendra Narpatmal Lodha, former director and promoter of Lodha Developers Ltd (now Macrotech Developers), has been arrested by the Mumbai Police Crime Branch in connection with a massive ₹85 crore fraud case.
Allegations Against Former Lodha Director
According to the FIR filed at NM Joshi Marg police station, Rajendra Lodha is accused of:
- Selling prime land parcels at undervalued prices — including a plot in Ambernath valued at ₹10 crore sold for just ₹88 lakhs.
- Causing over ₹49 crore in losses through 35 underpriced Transfer of Development Rights (TDR) deals.
- Misusing company assets in transactions involving firms linked to his son, Sahil Lodha, resulting in losses of over ₹6.3 crore.
- Forgery and criminal breach of trust by executing questionable land and property deals.
An internal audit by Lodha Developers reportedly uncovered major discrepancies, after which the company sought an explanation from Lodha. He later resigned from his role as director and promoter on August 17, 2025.
Arrest and Court Proceedings
The Mumbai Police arrested Rajendra Lodha from his Worli residence and produced him before a local court. He has been remanded to police custody until September 23, 2025.
The FIR also names his son, Sahil Lodha, along with other associates and former employees, who allegedly aided in the fraudulent land and TDR transactions.
Company’s Official Statement
Lodha Developers Ltd has reiterated its zero-tolerance policy against misconduct, emphasizing that strict action will be taken against anyone found guilty of malpractice, regardless of their position.
The company’s internal ethics committee had already been reviewing Lodha’s conduct. After his resignation, the board initiated a review of all land and property-related processes in the concerned business units to strengthen corporate governance and ensure transparency.
