Sushil Modi, Lodha Group's Director-Finance, said he is "shocked and saddened by the corporate governance issue" related to the arrest of ex-Director Rajendra Lodha in the ₹85-crore fraud. He added that the firm can’t completely rule out whether the fraud is over ₹85 crore. Lodha allegedly misused his position to cheat the company and was involved in bogus land acquisition.