ED Cracks Down: Rajendra Lodha's Rs 270 Crore Assets Seized

The Enforcement Directorate has attached assets worth over Rs 270 crore belonging to Rajendra Lodha, former director of Lodha Developers, under a money laundering investigation. Lodha, accused of diverting and siphoning funds, faces charges including cheating and unauthorized asset sales.

The Enforcement Directorate (ED) announced a significant seizure on Monday, attaching immovable assets worth over Rs 270 crore as part of its investigation into alleged money laundering by Rajendra Lodha, a former director of Lodha Developers.

The provisional order, placed under the Prevention of Money Laundering Act (PMLA), covers land parcels in Maharashtra's Panvel and Shahapur. Lodha's arrest in February followed accusations stemming from a Mumbai police FIR, which included charges of cheating and fabricating false documents, causing losses to the company.

ED claims highlight Lodha's purported involvement in unauthorized sales, undervalued property transfers, and fraudulent activities aimed at misappropriating company funds through the creation of inflated land purchase agreements.

(With inputs from agencies.)