5-year old start-up with a paid-up capital of Rs 1 lakh has sought to invest $500 billion in India, that is Rs 3,64,45,50,00,000 or for everyone’s convenience around Rs 36 lakh crore worth investment coming into the country.
Before you try to get your head around that, here is another strange fact. The proposal for an investment of this magnitude for COVID-19 pandemic relief was made through a newspaper advertisement.
“We have a concrete plan to make India Pandemic Free and request you to provide us an opportunity to present our plan,” Landomus Realty urged Prime Minister Narendra Modi through the advertisement.
Landomus Realty, the company which has made this investment request is registered with the Registrar of Companies (RoC), Bangalore, and has an authorised share capital of Rs 10 lakh. According to Zoominfo, the company has 19 employees and has a revenue of $5 million.
Landomus Realty has said that the company would like to invest $500 billion in equity as the “first phase of investment” into the National Infrastructure Pipeline (NIP) and Non-NIP projects listed by the government under India Investment Grid for ‘Invest India’ initiative.
The obvious question so far, how would the company raise $500 billion to invest in India?
As per the RoC records, the firm is involved in real estate activities with its own or leased property. The company also looks into the development and sale of land and cemetery lots, operating of apartment hotels and residential mobile home sites. Despite records showing a large portfolio of business operations for Landomus Realty, Bangalore, CREDAI says that they have never heard of the firm and that it’s not a part of CREDIA.
Landomus Realty has a single-page website with no information on its past projects or previous investments. The website flashes the same investment advertisement made in the newspaper giving an idea that the website has been created just to promote the investment advertisement.
As per Zauba Corp, Landomus Realty hasn’t undertaken any annual general meeting (AGM) in almost three years. Also, the company filed its latest balance sheet on March 31, 2018.
Landomus Realty has Pradeep Kumar Satyaprakash listed as the chairman and CEO. Mamatha HN, Yashas Pradeep Kumar, Rakshith Gangadhar and Gunashree Pradeep Kumar have been listed as the directors of the company.
Now let’s have a look at the amount which the company wishes to invest in India. Landomus Realty has expressed its intention to invest $500 billion into India.
To simply understand the magnitude of this investment, the Reserve Bank of India’s total forex reserve stood at $577 billion. To put a more global context, US President, Joe Biden recently signed a $1.9 trillion COVID-19 relief package in March, which means Landomus Realty wants to invest one-third of the size of the US COVID relief package in India.
The investment of $500 billion from the realty firm is just at the proposal stage but it will be interesting to see the end game for this one.
0 Comments