Major ED Action in Mumbai: Searches Reveal Crores in Assets Linked to Alleged Lodha Fraud Scheme

NATIONAL SPORTS BUSINESS CRIME EDUCATION GLOBAL LOCALE POLITICS TAX TECHNOLOGY TRAVEL-LIFE STYLE

FICO Urges Centre To Regulate Steel Prices, Warns Of MSME Shutdowns Ludhiana Naib Court Arrested Taking ₹10,000 Bribe, Skechers Shoes Top Batala Jeweller Under IT Lens As Department Conducts Survey GLADA Begins Crackdown On Illegal Commercial Buildings In South City, 43 Properties Face Action MC Ludhiana Intensifies Tax Recovery Drive Ahead Of March 31 Deadline GLADA Orders Demolition Of 47 Illegal Commercial Units Along NH-95A Stretch In Ludhiana NCB Zonal Director Urges Youth To Back Anti-Drug Drive At Ludhiana Swadeshi Mela 17th Aadivasi Yuva Aadan-Pradaan Programme Concludes At PAU Ludhiana DC Himanshu Jain Visits Punjab Sakhi Shakti Mela, Encourages Women Entrepreneurs ESIC Celebrates 75th Foundation Day With Cycle Event In Ludhiana

Major ED Action in Mumbai: Searches Reveal Crores in Assets Linked to Alleged Lodha Fraud Scheme

November 15, 2025

Ikramudin / New Delhi

The Directorate of Enforcement (ED) has seized and frozen movable assets worth approximately ₹59 crore, including cash, bank balances, and fixed deposits, following a widespread search operation against former Lodha Developers Ltd. director Rajendra Narpatmal Lodha and his associates in an alleged money laundering case.

According to details shared by ED, its officials conducted searches on Wednesday, November 12, 2025, at 14 locations in the Mumbai region as part of an ongoing probe. Investigators recovered incriminating documents, digital devices, and details of immovable properties worth several crores.

According to further information shared by ED, a money laundering investigation was initiated under the Prevention of Money Laundering Act (PMLA), 2002, after Mumbai Police registered multiple First Information Reports (FIRs) against Lodha and others. Authorities charge Lodha with cheating, abuse of official position, unauthorized asset sales, and creating false documents, actions which caused a wrongful loss of more than ₹100 crore to the publicly listed entity, M/s Lodha Developers Ltd (M/s LDL).

The agency’s investigation revealed that Lodha diverted and siphoned company funds and assets by unauthorisedly selling company properties at undervalued prices to proxy entities connected to him, without the Board of Directors' approval. Furthermore, he allegedly fabricated Memorandums of Understanding (MoUs) to purchase land at inflated prices, subsequently siphoning off the inflated cash portion through the sellers and misappropriating company funds.

According to ED, The investigation reveals that Rajendra Lodha, along with his related persons and associates, accumulated assets through these fraudulent activities. The ED continues its investigation to trace additional proceeds of crime.

ED Raids Mumbai 59 Crore Seizure Rajendra Narpatmal Lodha Case Money Laundering Lodha Developers Fraud PMLA Probe Fund Diversion Mumbai Police FIRs

Recommended Posts