A Bengaluru firm alleges it was cheated after a promised Indo-US technology project failed to materialise after payment.
How was the project presented?
The case began in 2023 when Dr Madhu Nambiar, director of Bengaluru-based SRIT India Private Limited, was introduced through an intermediary to Venkata Venkat, who represented VPVV Techno Construction Pvt Ltd.
Venkat allegedly offered SRIT a role in a project described as the “Indo-US Pacific Peace Treaty”, presented as an international initiative involving infrastructure, artificial intelligence, cybersecurity, surveillance and other technology-related work. VPVV allegedly claimed it was the project’s principal developer and had authorisation from the US Department of Defence and the US government.
SRIT was allegedly promised annual work orders of about Rs 500 crore until 2050, carrying a 20 per cent profit margin.
What happened at the hotel meetings?
Several meetings were held at VPVV’s office at the Jaypee Vasant Continental Hotel in Vasant Vihar, Delhi. People were allegedly introduced as company directors and senior members, while one individual was presented as a US diplomat involved in bringing vendors on board.
Participants were allegedly prohibited from carrying mobile phones or recording devices because sensitive government information was said to be under discussion.
The complainant alleged that documents bearing seals and emblems of US and Indian government institutions were displayed. These purportedly included MoUs, US Treasury Bonds worth $27 million, treaties and government approvals. Copies were allegedly withheld on confidentiality grounds.
Why was Rs 1.75 crore deposited?
The project gained further credibility when VPVV organised a Bhoomi Poojan ceremony in Tuticorin, Tamil Nadu, in December 2023. Dr Nambiar attended the December 14 event, where around 200 to 300 prospective vendors and associates were allegedly present.
Indian and American flags were displayed, while some people associated with the project arrived by helicopter. Work orders under Sharp & Turner LLP were also presented to vendors for signing.
SRIT was subsequently asked to deposit Rs 1.75 crore as earnest money to secure its position as a technology partner. It was allegedly assured that the money was safe and received post-dated cheques as a guarantee.
What raised doubts about the project?
The promised work orders never arrived. When SRIT’s finance team visited the Delhi office in August 2024, it was allegedly told that the first instalment of US government funding had been received and work would begin within weeks.
The project still did not start. SRIT’s subsequent inquiries allegedly indicated that similar funds had been sought from other people and that the Tuticorin land used for the ceremony did not belong to VPVV.
Two cheques worth Rs 50 lakh and Rs 61.69 lakh were later allegedly issued in an attempt to settle the matter. The Rs 50 lakh cheque bounced on February 25, 2026, due to insufficient funds.
An RTI response from the Ministry of External Affairs dated May 18, 2026, stated that it had received no proposal, communication or representation from VPVV Techno Construction concerning the alleged project.
What action followed the complaint?
Dr Nambiar approached Vasant Vihar police, and an FIR was registered on July 30, 2026, under provisions of the Bharatiya Nyaya Sanhita, 2023, including those relating to cheating and forgery. The State Emblem of India (Prohibition of Improper Use) Act was also invoked.
During bail proceedings at Patiala House Courts on September 2, both sides said they had reached a Rs 2 crore settlement. SRIT informed the court that Rs 1 crore had already been received and raised no objection to bail subject to the settlement terms.
The court granted accused Hitesh Kumar bail on a personal bond of Rs 2 lakh. The parties were expected to approach the Delhi High Court jointly seeking quashing of the criminal proceedings.
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