The City Crime Branch has arrested Shivaji Govindrao Jadhav (55), a former business development officer at Lodha Developers, in connection with a land fraud case that caused the company a loss of Rs 15.74 crore.
Jadhav, who had been absconding since October 2025, allegedly conspired with Rajendra Lodha, a director previously arrested, and other absconding individuals to illegally cancel a land share agreement and transfer company-linked land for personal financial gain.
The case involves land parcels at Mouje Sarang village, Bhiwandi, totaling approximately 7,870 sq m, originally acquired by Lodha Developers in 2007–08. Police allege that Jadhav facilitated the cancellation of the share agreement in 2020, transferring the land to acquaintances and relatives. Later, a portion of the land was transferred to his son and an associate and sold in 2025 to conceal the transaction after an internal company probe.
Earlier, in December 2025, the Crime Branch had filed a chargesheet against Rajendra Lodha and nine other accused. During the investigation, authorities seized multiple electronic devices, including mobile phones, hard disks, DVRs, and voice recordings.
The arrest marks a significant step in the ongoing probe into corporate real estate fraud and recovery of misappropriated assets.
