MUMBAI: The Enforcement Directorate (ED) has conducted searches at 14 locations in Mumbai and nearby areas associated with Rajendra Lodha, the former director of Lodha Developers (now Macrotech Developers), and his associates as part of a money laundering investigation.
Rajendra is accused of defrauding the Lodha Group, established by minister and BJP leader Mangal Prabhat Lodha, by illegally selling apartments in a New Cuffe Parade project. The city crime branch had previously arrested him, leading to the ED’s case based on that FIR.
One of the locations searched belonged to Vinod Patil, the brother of a former MNS MLA. Neighbors, including a senior BJP member, raised concerns about activities at Patil’s home, but departed after speaking with an ED official.
Rajendra is alleged to have promised land rights in exchange for payment, collecting over ₹3 crore in cash from homebuyer Nilesh Agarwal. He is also accused of selling company-controlled land in Ambernath, valued at ₹10 crore, for just ₹88 lakh, and undervaluing a 3,630sqm plot sold to Edutech Infratech LLP, linked to his son, resulting in ₹6.3 crore in losses. Furthermore, he reportedly diverted development rights valued at over ₹49 crore through 35 underpriced transactions.
An FIR has been filed at the N M Joshi Marg police station, citing provisions of the BNS for cheating, forgery, breach of trust, and misappropriation of funds against Rajendra, his son Sahil, and several associates.
