Meetings In Hotels, Deal Promise: How Investment Turned Into Fraud Case

A high-profile investment proposal that started with claims of high-stakes defence deals, an India-US project and meetings at a five-star hotel led to allegations of cheating, forgery and breach of trust.

The case began in 2023 when Dr Madhu Nambiar, director of Bengaluru-based SRIT India Private Limited, was introduced to Venkata Venkat through an intermediary.

Venkat, who represented VPVV Techno Construction Pvt Ltd, allegedly offered SRIT a role in what was described as the "Indo-US Pacific Peace Treaty" project.

The proposed project was presented as a massive international initiative involving infrastructure, artificial intelligence, cybersecurity, surveillance and other technology-related work.

According to the FIR lodged after the complaint was filed at Vasant Vihar police station, VPVV claimed it had been appointed as the principal developer of the project and was authorised by the US Department of Defence and the US government.

SRIT was allegedly promised work orders worth around Rs 500 crore every year until 2050, with a 20 per cent profit margin.

Meetings At Delhi's Five-Star Hotel

To establish the project's credibility, several meetings were held at VPVV's office at the Jaypee Vasant Continental Hotel in Vasant Vihar.

According to the complaint, several people were introduced as directors and senior members of the company. One person was presented as a US diplomat and the main contact for getting vendors on board.

The meetings were conducted under strict conditions. Participants were allegedly asked not to carry mobile phones or recording devices inside, with the organisers claiming that sensitive government information was being discussed.

The complainant alleged that documents carrying seals and emblems of US and Indian government institutions were also shown during the meetings. These allegedly included MoUs & US Treasury Bonds worth $27 million and documents described as treaties and government approvals.

However, when copies of the documents were requested, they were allegedly not provided, with the organisers citing confidentiality.

Helicopter Arrival At Tuticorin Event

The claims appeared to gain further credibility in December 2023 when VPVV organised a Bhoomi Poojan ceremony in Tuticorin, Tamil Nadu.

Dr Nambiar attended the event on December 14. According to the complaint, around 200 to 300 prospective vendors and associates were present.

Indian and American flags were displayed at the venue, while some of the key people associated with the project arrived by helicopter.

Work orders under a newly formed company, Sharp & Turner LLP, were also presented to vendors for signing. They were allegedly told that the documents would subsequently be sent to the US Congress for approval.

SRIT was asked to deposit Rs 1.75 crore as earnest money to secure its position as a technology partner.

The company was allegedly assured that the money was safe and was given post-dated cheques as a guarantee.

Project Never Took Off

The promised work orders, however, never arrived.

When SRIT's finance team visited the Delhi office in August 2024 seeking an update, they were allegedly told that the first instalment of US government funding had been received and that the project would begin within weeks.

The project still did not start.

SRIT subsequently carried out its own inquiries and allegedly found that similar funds had been sought from several other people using the same method.

The company also allegedly discovered that the land where the Tuticorin ceremony was held did not belong to VPVV and that no actual construction or development had taken place there.

When the allegations were raised, the accused persons allegedly attempted to settle the matter by issuing two cheques worth Rs 50 lakh and Rs 61.69 lakh.

The Rs 50 lakh cheque was presented for payment but bounced on February 25, 2026, due to insufficient funds.

MEA Response Raised Questions Over Project

A key development came through an RTI response from the Ministry of External Affairs dated May 18, 2026.

According to the complaint, the ministry stated that it had received no proposal, communication or representation from VPVV Techno Construction regarding the alleged Indo-US Pacific Peace Treaty project.

The response became a crucial piece of evidence for SRIT, which alleged that the entire project had been fabricated.

Police Case Registered

Following the allegations, Dr Madhu Nambiar approached the Vasant Vihar police station.

An FIR was registered on July 30, 2026, under various sections of the Bharatiya Nyaya Sanhita, 2023, including provisions related to cheating and forgery. The State Emblem of India (Prohibition of Improper Use) Act was also invoked.

The investigation was assigned to a SI rank delhi police official. When NDTV contacted the DCP of the South West District, Amit Goel, he said it is a cheating matter under investigation. 

Rs 2 Crore Settlement Reached

The case saw another development during bail proceedings at Patiala House Courts on September 2.

During the hearing involving accused Hitesh Kumar, both sides informed the court that they had reached a settlement of Rs 2 crore.

SRIT told the court that it had already received Rs 1 crore in its bank account. The complainant also stated that it had no objection to the bail, subject to the settlement terms.

The court subsequently granted bail to Hitesh Kumar on a personal bond of Rs 2 lakh.The parties are now expected to approach the Delhi High Court with a joint petition seeking quashing of the criminal proceedings, according to the court proceedings.