Court Denies Bail to Ex-Lodha Director in ₹181 Crore Scam
MUMBAI: On Monday, a court denied bail to Rajendra Lodha, the former director of Lodha Developers, in a Rs 181 crore corporate land fraud case, emphasizing that such offences undermine public trust in commercial and financial institutions. Additional Sessions Judge P A Sable noted that the preliminary evidence suggests Lodha played a crucial role in the alleged conspiracy. The prosecution claims that Lodha orchestrated a well-planned, prolonged economic conspiracy, misusing his fiduciary authority to unlawfully sell company-owned land to various developers at undervalued prices. He is accused of conspiring with multiple individuals, including his son Sahil Lodha, to fabricate documents…