Newspaper ad seeking PM Modi's permission to invest $500 bn in India raises eyebrows

An advertisement from a company purportedly based in the US has raised eyebrows on social media with the way it has approached the government for an investment worth $500 billion in various infra projects under the National Infrastructure Pipeline (NIP) and Non-NIP projects. Questions are being raised as to why a company that claims to invest funds worth $500 billion in India needs to do so via an ad in newspapers and not seek an appointment with Prime Minister Narendra Modi directly.

The newspaper ad placed in prominent newspapers of the country today says "Landomus Realty Ventures Inc, USA, would like to invest USD 500 Billion" in Equity as the first phase of investment into the National Infrastructure Pipeline (NIP) and Non-NIP projects listed by the government of India the India Investment Grid for "Invest India" initiative".

A simple search on the company reveals Landomus Realty Ventures is a private company incorporated on 17 July 2015. It is classified as a non-government company and is registered at the registrar of companies, Bengaluru. Though the company wants to invest $500 billion in India, its paid-up capital seems less. "Authorised share capital is Rs 1,000,000 and its paid-up capital is Rs 100,000," says the company website. Yashas Pradeep Kumar, Sathyaprakash Pradeep Kumar and Rakshith Gangadhar are the directors of Landomus Realty Ventures Private Limited. The address on its website shows at Manipal Centre, Dickenson Road, Bengaluru.

BusinessToday.In reached out to Invest India, the investment facilitation agency under the Department of Promotion for Industry and Internal Trade, to inquire if it had been approached by Landomus Realty. A representative from Invest India said they were not aware of the company and would update BusinessToday.In if the company approaches.

The newspaper ad claims the company 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 & Agriculture, Water & Sanitation, etc." Seeking an opportunity from PM Modi to "contribute to your vision of a New India", Landomus says it wants to assist the government in its endeavour to rebuild India and achieve the USD 5 trillion GDP target.

Meanwhile, social media users are questioning the authenticity of the newspaper ad, with many pointing out the obscurity of the company. "Most newspapers today carried this advt from an unknown company expressing interest to invest $500bn in India. Is this the way to approach the PM for such a big investment? Who are these people? Is it so difficult to get a meeting with the PM?" one Sanjeev Kumar asked.

"Authorised share capital is Rs 10,00,000 and paid-up is Rs 1,00,000. Kahan se latein hai yeh log itna confidence yaar? (From where do they get such confidence," tweeted another user.

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