Who is Rajendra Lodha? Former Lodha Developers director faces fresh FIR over alleged ₹6.67 crore Mumbai flat fraud
Former Lodha Developers Ltd director Rajendra Lodha has landed in fresh legal trouble after the Mumbai Police registered another FIR against him over an alleged ₹6.67 crore fraud involving a flat in the real estate developer’s South Mumbai project.
The latest complaint, filed by Lodha Developers, accuses Rajendra Lodha and five others of manipulating a property transaction dating back to 2019 and causing substantial financial losses to the company. The FIR was registered at the NM Joshi Marg police station on October 22.
Rajendra Lodha is currently behind bars in connection with an earlier alleged financial fraud involving the real estate developer. The fresh FIR adds to the legal challenges facing the former director, who has been accused of misusing his position to facilitate questionable property transactions.
According to India Today TV, which accessed a copy of the FIR, the alleged fraud involved a land development agreement in Bhiwandi and the sale of a flat in a South Mumbai project.
Why is Rajendra Lodha facing another FIR?
According to the complaint filed by Lodha Developers, the alleged fraud dates back to 2019, when Rajendra Lodha facilitated a land development agreement with the owners of a plot in Bhiwandi. He allegedly paid ₹8.5 lakh as brokerage for the transaction.
Days later, Lodha allegedly introduced Sacvir Builders and Developers LLP into the arrangement after its directors expressed interest in purchasing a flat in the company’s South Mumbai project.
The flat was originally valued at ₹6.86 crore. Lodha allegedly approved a discount of ₹1.5 crore, reducing its price to ₹5.36 crore. The directors of Sacvir Builders subsequently paid ₹36 lakh to Lodha Developers, according to the FIR.
The complaint alleges that Lodha subsequently informed the company that Sacvir Builders had acted as a broker in the Bhiwandi land transaction and helped secure a clear and marketable title for the property.
He allegedly valued the firm’s services at ₹5 crore and instructed the company to adjust this amount against the payment due for the South Mumbai flat.
After the necessary documentation was completed, the flat was allotted to Sacvir Builders.
The complaint further alleges that Lodha introduced another individual, identified as Nitin Narayan Keni, claiming that he was in possession of the Bhiwandi land parcel. Lodha Developers was allegedly made to pay Keni ₹17 lakh in connection with the transaction.
The company has alleged that the arrangement caused it a financial loss of ₹6.67 crore. The alleged irregularities surfaced recently when Lodha Developers began examining transactions undertaken during Lodha’s tenure.
The allegations are part of the latest FIR, and the claims against Lodha and the other accused are yet to be established in court.
Earlier ₹85 crore fraud case and ED investigation
The latest FIR is not the first time Rajendra Lodha has faced allegations of financial wrongdoing involving the real estate developer.
He was arrested in September 2025 after Lodha Developers filed an FIR accusing him of defrauding the company of ₹85 crore.
The case was investigated by the Mumbai Crime Branch’s Property Cell, which filed a chargesheet in December 2025. According to the chargesheet, the alleged fraud involved multiple methods through which Lodha purportedly diverted or misappropriated company funds. The police investigation pegged the alleged fraud at ₹181 crore.
The Enforcement Directorate (ED) subsequently initiated a money laundering investigation into the matter.
In March, the agency told a special court in Mumbai that the alleged proceeds of crime amounted to ₹370 crore.
According to the ED, the alleged proceeds were generated through fraudulent land transactions, barter arrangements, cash components collected from flat buyers and the layering of funds through various entities and individuals.
Lodha was subsequently arrested by the ED in connection with the alleged money laundering case and remains behind bars.
Who is Rajendra Lodha?
Rajendra Lodha is a former director of Lodha Developers Ltd, one of India’s prominent real estate developers. He was associated with the company for more than three decades and worked across several aspects of real estate development.
According to Lodha Developers’ annual report for the financial year 2023-24, Lodha pursued a bachelor’s degree in Civil Engineering from MBM Engineering College at the University of Jodhpur in Rajasthan.
He began his professional career with Lodha and accumulated over three decades of experience in the real estate sector, covering various aspects of property development.
Lodha served as a director of Lodha Developers from September 2013 until August 18, 2025, when he resigned from the position.
His resignation came after the company’s ethics committee reviewed his conduct.
