Mumbai : The Directorate of Enforcement (ED) has provisionally attached immovable properties worth approximately Rs 271.48 crore belonging to Mumbai-based businessman Rajendra Narpatmal Lodha. According to the ED, its investigation revealed that Lodha was involved in diverting and siphoning funds and assets of the company through the unauthorised sale and transfer of immovable properties at undervalued prices to proxy entities and individuals connected to him.
The agency further alleged that Lodha fabricated Memorandums of Understanding (MoUs) for land purchases at inflated prices and siphoned off the inflated amounts as cash through sellers, thereby misappropriating company funds. It said that Lodha, along with associates and related entities, accumulated assets through fraudulent activities, resulting in wrongful loss to the company.
The case first came to light in September 2025, when Lodha Developers filed a criminal complaint against Rajendra Lodha and others, prompting the Mumbai Crime Branch’s property cell to initiate an investigation. Subsequently, Rajendra Lodha and several co-accused were arrested on suspicion of fraud, cheating, criminal breach of trust and criminal conspiracy.
The ED conducted search operations in November 2025, at 14 locations in the Mumbai region under PMLA provisions, leading to the freezing and seizure of assets worth approximately Rs 88 crore. With the latest attachment, the total seizure and attachment in the case now stands at about Rs 359.48 crore.
The case first came to light in September 2025, when Lodha Developers filed a criminal complaint against Rajendra Lodha and others, prompting the Mumbai Crime Branch’s property cell to initiate an investigation. Rajendra Lodha and several co-accused were arrested on suspicion of fraud, cheating, criminal breach of trust and criminal conspiracy.
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