Overview

• Rajendra Lodha was arrested on September 17 after Lodha Developers Ltd filed an FIR alleging fraud, cheating, criminal breach of trust and conspiracy involving more than ₹85 crore.
• Investigators say a key transaction involved an 8,850 sq m Panvel plot allegedly sold via a power of attorney to an associate for ₹5 lakh in June 2022, then repurchased by LDL in October 2024 for ₹2.65 crore.
• The Esplanade Court extended police custody to September 29 as officers pursue forensic audits and follow leads from multiple witness statements recorded before a magistrate and by police.
• Case filings cite testimony describing cash movements and gold dealings, along with seized data from computers and phones and CCTV that reportedly shows Lodha’s brother carrying bags later found to contain records and ledgers.
• The probe includes alleged transfers of ₹49.22 crore to Lodha’s son, a reported gold handover by Hemant Bafna, a new claim by an Andheri resident over a separate 2015–16 land dispute, and an internal company estimate that losses could top ₹100 crore.