The Directorate of Enforcement (ED), Mumbai Zonal Office arrested Rajendra Narpatmal Lodha on 12.02.2026 under PMLA, 2002 in connection with a cheating case involving M/s Lodha Developers Ltd, a listed public company.
Custody Details
- Date of production before PMLA Court: 13.02.2026
- Court: Ld. Special Court (PMLA), Mumbai
- ED custody granted: 8 days
Basis of Investigation
The money laundering probe was initiated based on FIRs registered by Mumbai Police under various sections of BNS 2023 (corresponding to IPC).
Allegations include:
- Cheating
- Abuse of official position
- Unauthorised sale of assets
- Creation of false documents
The alleged acts caused wrongful loss exceeding ₹100 crore to M/s Lodha Developers Ltd.
Key Findings of ED Investigation
ED investigation revealed that Rajendra Lodha:
- Diverted and siphoned company funds through unauthorised sale of immovable properties at undervalued prices to proxy entities
- Transferred assets without Board approval
- Fabricated Memorandums of Understanding (MoUs) for land purchases at inflated prices
- Siphoned inflated portions in cash through sellers
- Accumulated assets through fraudulent activities along with related persons and entities
Earlier Searches and Seizures
On 12.11.2025, ED conducted searches at 14 locations in Mumbai under PMLA, 2002.
During searches, ED seized/froze:
- ₹88 crore (approx.) in cash, bank balances and fixed deposits
- Digital devices and incriminating documents
- Details of immovable assets worth several crores
Further investigation is under progress.
Source: ED Press Release dated 14/02/2026 on Lodha Developer case