Mumbai Special PMLA Court Finds No Active Money Laundering Role Of Sahil Lodha, Drops Proceedings Against Him

Mumbai's special PMLA court has dismissed money laundering allegations against Sahil Lodha, the son of real estate tycoon Rajendra Lodha, finding no evidence of his active involvement. The court accepted the Enforcement Directorate's (ED) complaint against Lodha and four others, including Bharat Narsana, Ritesh Narsana, Nitin Vador, and Harshad Patil. However, it dropped the prosecution against Sahil and Shital Palande.

The ED had accused Sahil of transferring Rs 49.22 crores into his father's account and transferring a parcel of land reserved for a school and college to a firm where his son was a partner, without proper authorization. The court noted that all allegations against Sahil were related to assisting his father in land deals, implying that his father was the main orchestrator of the illegal activities.

The prosecution argued that Sahil helped conceal illicit gains, participated in land dealings, and personally benefited from multiple transactions, constituting money laundering activities. They claimed he conspired with his father to acquire the land under M/s. Lodha Developers Ltd., with the initial purchase made under M/s. Shreeram Realties. Sahil submitted his ITR for the year 2024-2025, showing his income and expenditures.

The court accepted the prosecution complaint against Lodha and the other accused, stating that the proceeds of criminal activities were transformed into legitimate assets, obscuring their illicit origins. The investigation showed that the accused generated proceeds from crimes, presenting them as untainted property.