Overview
- The Enforcement Directorate is conducting searches at 14 locations, including Rajendra Lodha’s residence and offices in Mumbai.
- The money-laundering probe follows an FIR by Lodha Developers, now Macrotech Developers, alleging misuse of position between 2013 and 2025.
- The complaint alleges fraudulent undervaluation and concealment across multiple land transactions.
- Investigators report bogus land acquisition, resale to the company, and sales to other builders at deflated prices, contributing to the alleged losses.
- Lodha resigned after an ethics committee review and was arrested by the Mumbai Police Crime Branch in September.