The Mumbai zonal office of the Enforcement Directorate (ED) has arrested Rajendra Narpatmal Lodha on February 12, 2026, under the provisions of the Prevention of Money Laundering Act (PMLA) 2002. This arrest has been made in connection with the investigation related to fraud and money laundering committed by publicly listed company M/s Lodha Developers Limited.
On Friday, February 13, the accused was produced before the special PMLA court in Mumbai, where the court sent him to ED custody for 8 days for an in-depth investigation of the case.
What is the whole matter?
This action has been initiated on the basis of various FIRs registered by Mumbai Police. Rajendra Lodha and others are accused of cheating, misuse of official position, unauthorized sale of property and making fake documents under various sections of the Indian Code of Justice (BNS) 2023. It is alleged that due to these activities, Lodha Developers Limited has suffered a financial loss of more than Rs 100 crore.
Shocking revelations in the investigation
ED investigation revealed that Rajendra Lodha was involved in siphoning the company’s funds and assets. Sold the immovable properties of the company to persons associated with it and ‘proxy’ entities at prices far below market rates without the permission of the Board of Directors. Fake ‘Memorandum of Understanding’ (MoU) was prepared for the purchase of land, in which the land prices were inflated. Later this increased amount was withdrawn in the form of cash through vendors and embezzled.
Property worth crores seized in raid
Earlier, on November 12, 2025, ED had conducted a massive search operation at 14 locations in Mumbai area. During this period, movable assets (cash, bank balances and FDs) worth Rs 88 crore along with many objectionable documents, digital devices and details of immovable properties worth crores were seized or frozen. According to the investigating agency, this evidence has proved to be an important link in the ongoing investigation against Rajendra Lodha. At present, further investigation is going on in this case and ED is also investigating the role of other associates.