Overview

• An Esplanade Court extended Rajendra Lodha’s police custody to September 29 after his September 17 arrest in a company-initiated fraud case.
• Investigators allege he orchestrated sale-and-repurchase deals, including a Panvel plot and a parcel reserved for a school, causing losses estimated at roughly ₹85–100 crore.
• Police say they have 25 witness statements, including seven before a magistrate, plus an Excel ledger, coded phone chats, CCTV clips, and accounts of cash being delivered to his office.
• Authorities told the court the ₹49.22 crore trail to son Sahil Lodha is under forensic audit, with efforts to trace benami entities and recover suspected gold bars tied to the transactions.
• Sahil Lodha is named as a co-accused, has skipped summons, and faces a potential lookout notice as officers continue evidence collection and fund-tracing.