Archive · 14 Nov 2025
ED Seizes Rs 59 Crore Assets in Lodha Developers Fraud Probe
The government's Enforcement Directorate (ED) is investigating a former leader of a big building company called Lodha Developers, named Rajendra Narpatmal Lodha.
They believe he used company money and property for himself.
The ED says he sold company properties to people he knew for less money than they were worth.
They also suspect he faked papers to buy land for more than it cost, and then took the extra money.
This is believed to have cost the company over 100 crore rupees.
Because of this, the ED searched 14 places in Mumbai and found and froze about 59 crore rupees in cash, bank accounts, and other valuable items.
The ED is still investigating to find out exactly what happened and if others were involved.
The Enforcement Directorate (ED) seized and froze movable assets worth approximately Rs 59 crore during search operations in Mumbai.
The action is part of a money laundering probe against Rajendra Narpatmal Lodha, former director of Lodha Developers Ltd, and associates.
The probe is based on Mumbai Police FIRs alleging cheating and fraud that caused Lodha Developers Ltd over Rs 100 crore in losses.
Allegations include unauthorized sale of company properties at undervalued prices to proxy entities and inflating land purchase prices via fabricated MoUs.
Incriminating documents, digital devices, and details of assets were recovered, with further investigation ongoing.
- Who
- Rajendra Narpatmal Lodha and his associates (former director of Lodha Developers Ltd)
- What
- Search operations conducted and approximately Rs 59 crore in movable assets seized and frozen as part of a money laundering probe into an alleged fraud exceeding Rs 100 crore.
- When
- Wednesday (searches conducted), Friday (ED statement)
- Where
- Mumbai region (search locations)
- Why
- Allegations of diverting and siphoning company funds and assets through undervalued property sales to proxy entities and inflating land purchase prices through fabricated MoUs, causing wrongful loss to Lodha Developers Ltd.
Enforcement Directorate (ED) Allegations
Rajendra Narpatmal Lodha and Associates' Alleged Actions
Diversion and Siphoning of Funds/Assets
Enforcement Directorate (ED) Allegations
Rajendra Narpatmal Lodha allegedly diverted and siphoned funds and assets of Lodha Developers Ltd by unauthorizedly selling company properties at undervalued prices to proxy entities and individuals without board approval.
Rajendra Narpatmal Lodha and Associates' Alleged Actions
Lodha and his associates allegedly fabricated MoUs for land purchases at inflated prices, siphoning off the excess cash through original sellers for personal gain.
Nature of Offenses and Financial Impact
Enforcement Directorate (ED) Allegations
The ED probe is based on Mumbai Police FIRs for cheating, abuse of official position, unauthorized sale of assets, and fabrication of documents.
Rajendra Narpatmal Lodha and Associates' Alleged Actions
These alleged fraudulent activities caused wrongful losses exceeding Rs 100 crore to Lodha Developers Ltd.
- Agency
- Enforcement Directorate (ED)
- Accused
- Rajendra Narpatmal Lodha and associates (Former Director, Lodha Developers Ltd.)
- Case Type
- Money Laundering Probe under PMLA
- Predicate Offence
- FIRs by Mumbai Police for cheating, abuse of official position, unauthorized sale of assets, fabrication of documents
- Alleged Fraud Amount
- Over Rs 100 crore
- Seized Assets Value
- Approximately Rs 59 crore (movable assets: cash, bank balances, fixed deposits)
- Search Locations
- 14 locations in Mumbai
Sources
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ED seizes Rs 59 crore assets in alleged money-laundering probe against Lodha Developers
ED gets 14-day custody of builder in Rs 222-crore PMLA case
