Mumbai police have claimed that Rajendra Lodha, former director of Lodha Developers Ltd (LDL), transferred ₹49.22 crore to his son Sahil Lodha’s account. He is also accused of transferring land reserved for a school and college in one of the company’s projects to a firm where his son was a partner, without having any authority.

Custody Extended

The Economic Offence Wing (EOW) on Tuesday obtained further custody of Lodha till September 29. The agency claimed that last week they recorded the statement of the company's vice president. He stated that in the company’s project Panacea Lodha, a portion of land was reserved for construction of schools or a college, but Lodha sold the parcel to the firm NBP Edutech LLP.

Destroyed Financial Records

The witness further disclosed that when he exam

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