Mumbai. The troubles of Rajendra Lodha, former director of Lodha Developers, have increased once again. Another FIR has been registered against him for allegedly causing a loss of ₹6.67 crore to the company. The case is linked to a 2019 land deal in Bhiwandi and the allotment of a flat in South Mumbai. The FIR has been registered at Mumbai’s NM Joshi Marg police station.
According to the company’s complaint, Rajendra Lodha allegedly misused his position and authority by linking the Bhiwandi land deal to the sale of a company flat in South Mumbai. The complaint says the initial price of the flat was ₹6.86 crore, which was allegedly reduced to ₹5.36 crore after a discount of ₹1.5 crore. The flat was then allotted to Sakveer Builders and Developers LLP.
It is alleged that Rajendra Lodha linked the services of Sakveer Builders to securing clear and saleable ownership rights for the Bhiwandi land and valued those services at ₹5 crore. Instructions were allegedly given to adjust this amount against the outstanding price of the flat. The complaint also alleges that Nitin Narayan Keni was included in the deal and a payment of ₹17 lakh was made to him.
The company claims that the alleged role of Rajendra Lodha and five others caused it a total loss of ₹6.67 crore. Police have registered a case under relevant sections of the Bharatiya Nyaya Sanhita and started investigating the transactions and the roles of those involved.
Rajendra Lodha is already in judicial custody in other cases of alleged financial irregularities involving the company. Earlier, the company had accused him of fraud of around ₹85 crore. The Enforcement Directorate is also investigating alleged money laundering linked to the matter. However, the investigation into the allegations in the latest case is still under way, and the allegations are yet to be proved judicially.
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