Properties seized amid money-laundering probe over alleged fund diversion and land fraud.

ED Attaches ₹270-Crore Assets of Ex-Lodha Developers Director Rajendra Lodha.

The Enforcement Directorate has provisionally attached immovable assets worth over ₹270 crore in a money-laundering case involving Rajendra Lodha, former director of Lodha Developers. The attachment order, issued on March 26 under the Prevention of Money Laundering Act, values the seized properties at ₹271.48 crore. According to the agency, the assets include land parcels located in the Panvel and Shahapur talukas of Maharashtra. Rajendra Lodha was arrested by the ED in February and is currently in judicial custody. The probe stems from a Mumbai Police FIR accusing Lodha of cheating, abuse of official position, unauthorised sale of company assets, and fabrication of documents, resulting in wrongful losses to the company. The ED alleged that Lodha diverted and siphoned off funds by selling company-owned properties at undervalued prices to proxy entities linked to him. It further claimed he fabricated memorandums of understanding for land deals at inflated prices, siphoning off the excess as cash.