New Delhi. A suspected nationwide fraud involving around ₹1,000 crore has come to light in the name of investment in and securing contracts for a major defence-related project. The accused allegedly cited a purported ₹83,000 crore project linked to the US Department of Defense and an ‘Indo-US Pacific Peace Treaty’ to convince companies that they would receive major work orders. Three people — Hyderabad resident Venkita Venkat and Delhi residents Rahul Nair and Hitesh Kumar — have been arrested in connection with the case.
According to the investigation, the accused allegedly prepared a fake project proposal involving the manufacture of weapons in India for the US Department of Defense. Companies were allegedly told that the project would generate large business opportunities and provide them with work orders worth crores of rupees over several years.
Promise of ₹500 Crore in Work Orders Every Year
According to the FIR registered at Vasant Vihar police station, Dr Madhu Nambiar, director of Bengaluru-based technology company SRIT India Limited, came in contact with VPVV Techno Construction around May 2023. Several meetings were subsequently held at the company’s office in Vasant Vihar.
During these meetings, representatives of VPVV allegedly presented themselves as a company involved in facilitating major infrastructure projects in India and abroad.
The accused allegedly claimed that a major infrastructure and defence project was about to be launched in India under the ‘Indo-US Pacific Peace Treaty’. The proposed project was said to involve land acquisition, engineering, technical services, cybersecurity, telecommunications, artificial intelligence, electronic security and surveillance.
SRIT India Limited was allegedly assured that it would receive work orders worth around ₹500 crore every year until 2050. Based on the proposal, the company agreed to become a technology partner for the project.
Government Documents and Seals Allegedly Used to Gain Trust
According to the investigation, the accused allegedly showed government documents, seals and other paperwork purportedly related to the project to establish credibility. SRIT India Limited was subsequently asked to deposit ₹1.75 crore as an earnest money deposit for the project.
The complaint alleges that the project and the business opportunities associated with it were presented as genuine while seeking the money. Subsequent inquiries, however, raised suspicions that the project and related claims were fabricated.
Police are now investigating how the money received from the company was used and whether it was transferred to other individuals or entities. Investigators are also examining the financial trail to determine the extent of the alleged operation.
Several Companies May Have Been Targeted
Police suspect that the alleged fake project may not have been created solely to obtain money from one company. Investigators are examining whether companies and investors in different parts of the country were approached using the same project proposal and promises of lucrative contracts.
With the alleged fraud estimated at around ₹1,000 crore, the scope of the investigation has widened. Agencies are examining documents allegedly used by the accused, correspondence between the companies, bank accounts and financial transactions linked to the case.
Investigators are also trying to establish how many companies were contacted in the name of the project and how much money was allegedly collected from them.
The case highlights the risks involved when companies are approached with proposals linked to major government, defence or international projects. Experts advise businesses to independently verify such claims through the concerned government department, official records and authorised channels before transferring any investment, security deposit or advance payment.
Police are questioning the arrested accused to establish the structure of the alleged network, identify other people involved and trace the flow of funds. The investigation may also reveal whether other companies were approached and whether additional victims were allegedly defrauded.
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About the author — Suvedita Nath is a science student with a growing interest in cybercrime and digital safety. She writes on online activity, cyber threats, and technology-driven risks. Her work focuses on clarity, accuracy, and public awareness.
