India


ED seizes Rs 59 Cr in raids on Lodha Developers' Ex-Official in Rs 100 Cr fraud Case

New Delhi, Nov 14 (UNI) The Enforcement Directorate's (ED) Mumbai Zonal Office on Friday conducted search operations at 14 locations in the Mumbai region as part of an ongoing money laundering probe against Rajendra Narpatmal Lodha and others.
An ED official stated that the search operations led to the seizure and freezing of movable assets amounting to Rs 59 crore in the form of cash, bank balances, and fixed deposits. Various other incriminating documents, digital devices, and details of immovable assets worth several crores were also recovered.
The ED initiated its investigation based on FIRs registered by Mumbai Police against Rajendra Narpatmal Lodha and others under various sections of the Bharatiya Nyaya Sanhita (BNS). The charges include cheating, abuse of official position, unauthorized sale of assets, and the creation of false documents, which allegedly caused a wrongful loss of over ₹100 crore to the publicly listed entity, Lodha Developers Ltd.
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