Former Lodha developers director Rajendra Lodha has been arrested for £ 85 crore fraud case. Details here

A former director of a leading property firm was arrested on Wednesday for allegedly abusing his position to cheat the company of £ 85 crore, Pti reports, referring to Mumbai police. The accused, identified as Rajendra Lodha, served as director of Lodha Developers Ltd. from September 2013 to 18 August 2025. He resigned after the company’s ethical committee’s review of his actions, an official told the news agency. The complainant claims that Lodha abused his official position to deceive the company. The officer said Lodha’s alleged involvement in the fraud was unveiled during the investigation into a case registered with the NM Joshi Marg police station. He was taken from his residence in Worli by the crime branch property, a senior officer told the publication. He appeared in court, where he was in police custody until September 23, the official added. As the director of the company, Lodha was allegedly involved in fraudulent land acquisition, selling the land to Lodha developers, and selling the company’s land to other builders at a significantly undervalued price, and other misleading activities, which resulted in a loss of £ 85 crore, according to the FIR. The official said further investigation was underway. In a statement, Lodha developers said in a statement: “The company holds a strict zero tolerance policy on any misconduct, regardless of the seniority or position of the individual concerned.” The company further added: “At the request of the company, Mr Rajendra Lodha resigned from all posts held on August 17, 2025. (With input from agencies.)