Court and Legal
Former Lodha Developers Director Booked in Fresh Rs 6.67 Crore Fraud FIR
Mumbai Police have registered a fresh FIR against former Lodha Developers director Rajendra Lodha and five others over an alleged Rs 6.67 crore fraud linked to a 2019 Bhiwandi land deal and a South Mumbai flat. The allegations are unproven and no court has made a finding in the case.
| Case status | Allegations only; no court finding made in this FIR as of 4 November 2026 |
|---|---|
| Alleged loss | Rs 6.67 crore |
| Date of registration | 22 October 2026 |
| Police station | NM Joshi Marg police station, Mumbai |
| Accused | Rajendra Lodha, former Lodha Developers director, and five others |
| Complainant | Lodha Developers Limited |
| Charges cited | BNS Sections 318(3), 318(4), 316(5) and 3(5) |
What happened
Mumbai Police registered a fresh FIR against former Lodha Developers director Rajendra Lodha and five others over an alleged Rs 6.67 crore fraud. The case was registered on 22 October 2026 at the NM Joshi Marg police station, following a complaint lodged by the company. Reports published on 2 and 3 November 2026 described the FIR.
The complaint followed internal reviews of financial files from Lodha's tenure. Those reviews raised concerns about a land deal, brokerage payments and a flat transfer. The allegations are the complainant's account and have not been tested in court.
The Bhiwandi land deal and the flat
The FIR concerns a 2019 land development transaction in Bhiwandi. The complaint alleges that the deal was tied to the allotment of a residential flat in South Mumbai.
- Rajendra Lodha is alleged to have facilitated a development agreement over a Bhiwandi land parcel and to have received Rs 8.5 lakh as initial brokerage.
- Sacvir Builders and Developers LLP was brought into the arrangement after its directors showed interest in buying a flat in a Lodha Developers South Mumbai residential project.
- The flat had an original valuation of Rs 6.86 crore. The complaint alleges that Lodha authorised a Rs 1.50 crore discount, taking the effective price to Rs 5.36 crore.
- The directors of Sacvir Builders allegedly paid Rs 36 lakh directly to Lodha Developers.
- The complaint alleges that Lodha described Sacvir as a broker in the Bhiwandi deal that had secured clear, marketable title. He valued those services at Rs 5 crore and allegedly directed that this sum be adjusted against the pending balance for the flat before allotment.
- Nitin Narayan Keni was allegedly identified as being in possession of the Bhiwandi parcel. Lodha Developers paid him Rs 17 lakh on that representation.
Investigation focus
Police are examining the documentation behind the valuation used for the claimed brokerage and the formal title deeds for the Bhiwandi land. Reports say police will also examine the wider transaction trail and the roles of other people in the alleged financial dealings. No dates have been announced for these steps.
Rajendra Lodha's wider legal position
This FIR is separate from other proceedings involving Rajendra Lodha. Mumbai Crime Branch arrested him in September 2025 in a Rs 85 crore fraud case registered at the same police station. A chargesheet filed in December 2025 raised the estimated fraud figure in that case to Rs 181 crore.
The Enforcement Directorate arrested him on 12 February 2026 in a money-laundering case. In March 2026, the ED told a Mumbai special court that alleged proceeds of crime were about Rs 370 crore.
On 21 September 2026, the Bombay High Court set aside the ED remand and granted him bail. Justice Milind N. Jadhav held that the ED's arrest could not rest on material the agency had earlier used to seek permission to interrogate him. That ruling concerned the ED arrest only and did not decide whether the fraud allegations are true. Under the bail order he must report to the ED twice a month, cooperate with the investigation and trial, surrender his passport and seek court permission before leaving India.
Reports published in early November 2026 describe him as in judicial custody over earlier allegations. The bail order and the custody reports concern different proceedings.
The developer's role
Lodha Developers Limited is the complainant in this FIR. It is not named as an accused. The company was founded in 1980 by Mangal Prabhat Lodha. It was renamed from Macrotech Developers Limited on 16 June 2025 and is listed on the NSE as LODHA and on the BSE as 543287.
The company has developed residential and commercial properties in Mumbai, Thane, Hyderabad, Pune, Bengaluru and London. A company profile reports over 90 completed projects; this is a company-side figure. In August 2026 the company said it planned to launch 21 new housing projects by the end of March 2027, with a total revenue potential of Rs 24,000 crore.
On 3 November 2026 the company's share price rose more than 6% after a positive outlook from brokerage firm Motilal Oswal. That brokerage move was not linked to the FIR in the source.
What it means for buyers and investors
The complaint concerns a 2019 land transaction and the transfer of one South Mumbai flat. It does not name a specific launch, project status or possession date. Buyers and investors in Lodha projects can track the outcome of the FIR and the other proceedings against Rajendra Lodha as they move through the courts.
Location of the police station
The case was registered at the NM Joshi Marg police station in South Mumbai. The road is served by the Lower Parel monorail station, which opened on 3 March 2019. The nearest metro station is Acharya Atre Chowk on Line 3, about 1.1 km away. Sources differ on whether the road is part of Lower Parel or Mahalaxmi.
What comes next
No hearing or court dates on the new FIR have been announced. Police will continue examining the Bhiwandi land papers, the valuation used for the claimed brokerage and the other people involved in the alleged dealings. A separate interim application by Rajendra Lodha's son over consent terms recorded by the Bombay High Court on 28 January 2026 was filed in October 2026 and is pending. The son's application alleges that family assets above Rs 4,000 crore were transferred under coercion. Those claims are disputed and have not been adjudicated.
Frequently asked questions
Has Rajendra Lodha been found guilty in the new FIR?
No. The Rs 6.67 crore fraud allegations are unproven. No court has made a finding in this FIR as of 4 November 2026.
Who filed the complaint?
The complaint was lodged by Lodha Developers Limited. The company is the complainant and is not named as an accused.
What is the alleged fraud about?
The FIR concerns a 2019 land development transaction in Bhiwandi and the transfer of a South Mumbai flat. The complaint alleges a brokerage claim of Rs 5 crore and payments to third parties were used to adjust the flat price.
Which charges have been registered?
Cases were registered under BNS Sections 318(3), 318(4), 316(5) and 3(5).
Does the Bombay High Court bail order affect this FIR?
The bail order of 21 September 2026 concerns the ED money-laundering arrest. It did not decide whether the fraud allegations in the new FIR are true.