Mumbai: A former director of a prominent real estate company was arrested on Wednesday for alleged abuse of his official function to cheat the company of RS 85 Crore, said Mumbai police.
The accused, identified as Rajendra Lodha, worked from September 2013 to 18 August 2025 as director of Lodha Developers Ltd. He resigned after the ethical committee of the company had assessed its behavior, an official said.
The complainant claimed that Lodha abused his official position to cheat the company.
His alleged involvement in the fraud came to light during the investigation into a case registered at the police station of NM Joshi Marg, the officer said.
He was picked up from his home in Worli by the ownership cell of the crime branch, a senior officer said.
He was produced in a court, who sent him back in the detention of the police until 23 September, the official said.
During his term of office as a business director, Lodha was reportedly involved in fake land acquisition, by reselling the country to Lodha developers, who sold the country of the company to other builders for a very empty price and other fraudulent activities, which cause RS 85 crore loss, according to the Fir.
Further research is underway, the official added.
Responding to the development, Lodha developers said in a statement: “The company maintains a strictly zest tolerance policy for misconduct, regardless of the seniority or position of the person involved.
“At the request of the company, Mr. Rajendra Lodha resigned from all the positions held within the organization on 17 August 2025. For the sake of transparency, we note that he is a distant family member (fourth degree) of the director and CEO of the company.”
#director #Lodha #developers #arrested #fraud #case