India's Prime Minister Narendra Modi gets a unique proposal via a newspaper advertisement
- A bizarre ad by an obscure company called Landomus Realty Ventures has caught the eye of Indians.
- The company claims that it wants to invest $500 billion into Indian government’s National Infrastructure Pipeline (NIP).
- Apart from this, the advertisement also mentions that Landomus has a “concrete plan to make India pandemic-free”.
Taking it a step further, the company says that it wants to invest a whopping $500 billion into the Modi government’s National Infrastructure Pipeline (NIP).
“Landomus Realty Ventures Inc., USA, would like to invest $500 Billion in Equity as the First Phase of the $2 Trillion investment under Build India into the National Infrastructure Pipeline (NIP) and Non-NIP projects listed by the Government of India under the India Investment Grid for 'Invest India' initiative,” said the chairman of the Landomus Group, Pradeep Kumar Satyaprakash, in a newspaper advertisement.
AdvertisementThe eye-popping investment number might seem interesting, but there’s very little that’s known about the company. The manner in which Landomus has expressed its interest to invest in India also makes it seem fishy.
“No company by that name had made any investment in highway projects till date,” unnamed road ministry officials told The Print.
Very little known about the company
We also tried looking up the company on the Ministry of Corporate Affairs’ (MCA) website. We found the following details:
The Indian subsidiary – Landomus Realty Ventures Pvt Ltd. – is a Bengaluru-based company with a paid-up capital of ₹1 lakh.
It was registered in 2015 – the same year when the company registered its website.
AdvertisementIts last annual general meeting took place in 2018, which is also when the company last presented its Balance Sheet.
Apart from this, the MCA website reveals that it has three directors – Pradeep Kumar Sathyaprakash, Yashas Pradeep Kumar and Rakshith Gangadhar.
Here is a brief look at the company’s revenue and profit over the last five financial years:
Source: Ministry of Corporate Affairs; accessed via Tracxn
|Year||Revenue||Profit/Loss for the year|
Landomus’ website was created in 2015
Landomus Realty has a one-page website wherein it mentions the same things that it did in the advertisement. It says it is based in New Jersey, USA.
AdvertisementA quick check of the website’s registration details on Internet Corporation for Assigned Names and Numbers’ (ICANN) website shows that the website is registered in the name of United Land Bank, with Karnataka as its mailing address.
Nearly half of Narendra Modi's $1.4 trillion ‘new’ infrastructure promise may be already approved projects
India hopes that more money will bridge the infrastructure gap but many believe that may not be enough
Rs 103 lakh cr infra projects launched under NIP; logistic Policy to come soon: FM
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