6 months ago
65
ARTICLE AD BOX
MUMBAI: Mumbai’s transgression subdivision has arrested Rajendra N. Lodha, 57, on with respective others, for allegedly cheating Lodha Developers of Rs 85 crore. The lawsuit stems from a ailment lodged by Lodha Developers Ltd.,
one of India’s largest existent property firms. The institution accused its erstwhile director, Rajendra Narpatmal Lodha, his lad Sahil Lodha, and respective associates of large-scale fraud, misappropriation of assets, and transgression breach of spot amounting to astir Rs 85 crore.
Police said Rajendra Lodha, who had authorization lone to get onshore connected behalf of the company, allegedly abused his presumption by carrying retired unauthorised income of company-owned properties. He is besides accused of undervaluing onshore deals and engaging successful amerciable Transferable Development Rights (TDR) transactions.
