Lodha Developers accused in a FIR that Rajendra Lodha, along with his son and other associates, had defrauded the company of around Rs 85 crore through bogus land transactions, sale of company land at undervalued rates, and large-scale cash transactions
In its fourth-quarter update, Macrotech Developers Lodha reported sales worth Rs 4,810 crore, surpassing estimates of Rs 4,700 crore
The case likely to be heard by Bombay High Court later this week
'About 100 years ago, the Tata family gave a major part of their shareholding in their enterprise to the Tata Trusts,' Lodha Group CEO Abhishek Lodha recollected.
Abhishek Lodha, the MD & CEO of Lodha Group cited the decision by Tata family to give away a major part of their shareholding in their business to the Tata Trusts a century ago as the inspiration behind their decision.
Following this transaction, GGVIPL is set to become a wholly-owned subsidiary of the Mumbai-based real estate group