News

Former director of Lodha Developers arrested in fraud caseRajendra Lodha, ex-director of Lodha Developers, was arrested in Mumbai for alleged fraud. Lodha Developers confirms his resignation and ongoing investigation.By PTI September 17, 2025, 10:30:30 PM IST (Published)2 Min ReadA former director of real estate company Lodha Developers was arrested on Wednesday (September 17) for his alleged role in a fraud, officials said.

Accused Rajendra Lodha was taken into custody from his residence at Worli in central Mumbai by the property cell of the Mumbai Crime Branch, a senior police official said.

Rajendra Lodha’s alleged involvement in the fraud came to the fore during the investigation, following which he was arrested, he said.

He was produced in a court, which remanded him in police custody till September 23, the official said.

Lodha had resigned from the post of director of Lodha Developers last month after the company’s ethics committee reviewed his conduct. Further probe in the case is underway, the official added.

Reacting to the development, Lodha Developers said in a statement, “The company maintains a strict zero-tolerance policy towards any misconduct, irrespective of the seniority or position of the individual concerned.

“At the company’s request, Mr Rajendra Lodha resigned from all positions held within the organization on August 17, 2025. For the sake of transparency, we note that he is a distant relative (fourth-degree) of the company’s Managing Director and CEO.”

Also Read: Aavas Financiers clears issue of non-convertible debentures worth ₹8,500 croreContinue ReadingCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!TagsfraudLodha DevelopersMacrotech Developers