A front page ad from an obscure company promising $500 bn as investment into India was the headline grabbing attention on Monday.
A US firm Landomus Realty placed a front page ad in form of a letter directed to Prime Minister Narendra Modi stated that the company wanted to invest $500 billion into India's National Infrastructure Pipeline (NIP).
So what is the Landomus Group ? And who it's Chairman Pradeep Kumar Satyaprakash? The company's single-page website just talks about its intentions to 'build India' and doesn't have any other information about the firm itself except the name of its management.
As per Zoominfo, the company has 19 employees and a revenue of $5 million while it seeks to invest 100,000 times more than it's reported topline. Authorised share capital of the unknown company is merely Rs 10 lakh and its paid-up capital is just Rs 1 lakh.
A Whois lookup, however, revealed that the company website was registered in 2015 by United Land Bank, headquartered at Sivan Chetty Gardens in Karnataka, India, as published in a Moneycontrol report.
When searched about the address on the internet, a lot of apartment listing websites show that it is a residential area.