A little-known US-based firm has claimed that it wants to invest $500 billion (over 36 lakh crore) in India’s National Infrastructure Pipeline (NIP).

The firm, Landomus Realty Ventures, expressed its interest to invest in the country by making an appeal to Prime Minister Narendra Modi through a front-page ad in a prominent newspaper.

The firm released statements, stating it wants to “invest USD 500 billion in equity as the first phase of the USD 2 trillion investment under Build India into the National Infrastructure Pipeline (NIP) and non-NIP projects listed by the government of India”.

Landomus Group Chairman Pradeep Kumar Satyaprakash has made an appeal to Prime Minister Narendra Modi to provide an opportunity to contribute to the ‘New India’ vision.

Little is known about the company. It has a one-page website that does not give out much details.

View Full Image

Little is known about the company. It has a one-page website that does not give out much details.

“Landomus Realty Ventures aims to make India a global destination by supporting the completion of NIP and non-NIP projects along with investors and developers under the India Investment Grid in sectors such as energy, social infrastructure, manufacturing, transport, food processing and agriculture, water and sanitisation,” Satyaprakash added.

In the advertisement issued in leading newspapers, Landomous Group chairman Pradeep Kumar Satyaprakash said his group “aims to assist the Government in its endeavour to rebuild India and achieve the USD 5 trillion GDP target”.

“Landomus Group requests you to provide us an opportunity to contribute to your vision of a New India,” he said in the advertisement titled “Humble Appeal to our Beloved and Hon’ble Prime Minister Shri. Narendra Modi Ji”.

At the end of the advertisement, the firm mentioned: “We have a concrete plan to make India pandemic free and request you to provide us an opportunity to present our plan”.

Little is known about the company. It has a one-page website that does not give out much details.

What Zoominfo says about the firm

As per Zoominfo, the company has 19 employees and a revenue of USD 5 million. A Whois lookup, however, revealed that the company website was registered in 2015 by United Land Bank, headquartered at Sivan Chetty Gardens in Karnataka.

The website gave the address of Landomus Realty Ventures Inc as Secaucus, New Jersey, USA.

Zoominfo, which provides a database of companies, said “Landomus Realty Ventures Inc was formed for the purpose of acquiring land parcels and creating land banks in India”.

An email sent to the email address listed on the company website remained unanswered. The email sought information about the firm, its source of funding, information on promoters and its backers, revenues and purpose of issuing the advertisement remained answered.

Union Finance Minister Nirmala Sitharaman had announced the NIP in December 2019. Under the NIP, the Centre has projected a total infrastructure investment worth 111 lakh crore during FY20-25.

Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint.
Download
our App Now!!



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here