British Columbia Securities Commission dismisses fraud investigation into Royal Indian Raj International Corporation
Canadian proprietary township model to proceed in India as result of clearance by the BCSC
Vancouver, BC, November 25, 2011 - As of April 2010, the British Columbia Securities Commission (BCSC) has formally closed their investigation into Royal Indian Raj International Corporation (RIRIC).
Allegations of fraud and irregular land acquisition processes surrounding RIRIC's township development activities in India were brought against the company in early 2005 by a former local employee looking to undermine the hard-earned reputation of RIRIC in both North America and India. In addition to RIRIC's early brand incubation of such names as Choice Hotels (15, 000 rooms), Century 21, and Caldwell; exclusive rights to the Jack Nicklaus golf courses and Academies; consultancy associations with Jones Lang LaSalle and CPG Corporation (former Singapore Public Works Dept); and financial relationships with Global Emerging Market Fund on a 300, 000, 000M (GBP) Equity Line of Credit the following townships were presented to the Indian government and proposed for development subsequent to land negotiations and Township master plans submission:
Royal Garden City Bangalore (2004) - 3, 000 acre (146.36 million sq. ft. built-up) "Smart" City, Bangalore, India
Royal Garden City Mumbai (2004) - 5, 000 acre (217, 800, 000 sq. ft. built-up) "Smart" City, Mumbai, India
Royal Garden Villas and Resort (2005) - Phase 1: 17 gated communities (600, 000 sq. ft.buildable), proposed expansion to 137 acres (5- 7M sq. ft.) Bangalore, India
The Italian Village (2007) - 1, 136 acre gated community, Bangalore, India
Golf India (2007) - a series of prestigious, planned golf course communities across India by golf legend Jack Nicklaus
The Special Economic Zone [protected], 500 acres for commercial development, State of Meghalaya, India
After an exhaustive review, BCSC lead investigator David Martin determined there were no grounds for prosecution.
"At the end of [that] process, we concluded that there was insufficient evidence to sustain allegations, " said Bob Abrams, BCSC Investigations Manager.
"We are very pleased with the BCSC's decision, " says RIRIC's chairman Manoj C. Benjamin. "As RIRIC is very vigilant at keeping well-documented records of its cross- border activities in the new emerging market of India and elsewhere we remained confident with the investigation's outcome. The process has nevertheless delayed our progress.We are eager to put the last few years behind us and get our inaugural township project in Bangalore, India, off the ground in mid 2012, move on to other proposed townships as well as internationally incubate big name brands through our vertically integrated development portal.".
The Asia-China-India markets will make up 50% of the world's economy by mid-century; a transformation which, in India, will be "the scale and speed of which has not happened anywhere except China" noted a recent report from Morgan Stanley. RIRIC is well-versed in the risks and challenges inherent to developing Eastern markets and is readily equipped to handle the multiple facets of its projects.
"Our vertically integrated proprietary "Smart" township model is unique - and a significant undertaking by any company's standards, " notes Benjamin. "It requires vision, the pursuit of excellence and a hard-headed business acumen. In India it requires additional mastery over many complex risk factors and procedures prevalent in these types of emerging markets such as poor regulatory environments, undefined real estate laws/practices, prolonged re-zoning issues, continuously changing governments, and excessive governmental red tape for project permissions with average approvals taking up to six to eight years. It takes patience, perseverance and personal contacts at the highest political level. RIRIC has all three in abundance."
RIRIC initially entered into their township development projects in 2000. They received Indian Foreign Investment Promotion Board (FIPB ) approvals under India's newly created "Integrated Township Sector" programme in September 2004, and became the first Foreign Direct Investment (FDI) permitted under this initiative. However, government delays of five to ten years, the aforementioned employee's internet sabotage campaign, and other influencing market factors reversed the precision planning and effective advancements to date; it was the perfect storm to stall the company's stellar reputation, integrity and project validity.
The clearance by the BCSC, combined with finalized Indian government permit clearances at the central and state levels, will allow RIRIC to commence phase one of its inaugural Royal Garden Villas & Resort (RGV) Live-Work-Play community in 2012 with phase two and its proposed 3-4 million square feet development anticipated to follow. The RGV project has received over 12, 000 sales inquiries in its pre-launch stage. The entire project will be completed in several phases over approximately 5-7 years.
"Over the next two decades, India is expected to see an urban transformation the scale and speed of which has not happened anywhere except China, with many cities becoming larger than many countries in terms of population, size and GDP. By 2030, India's cities will be home to about 590 million people - nearly twice the population of the United States. At present, nearly one-quarter of India's top 200 cities have no car dealership, less than 10% have a 5-star hotel, and nearly two-thirds were still waiting for a large-scale retail store or hyper market." -Morgan Stanley Alpha Wise Evidence Series - India Urbanization, January 2011
"India's burgeoning and transitioning real estate sector has many challenges; understanding those challenges and enormous market potential will take time. In addition to a corporate real estate sector that's in its infancy in terms of customs and regulations compared to Western Europe, the U.S. or Canada, there are also cultural and operational differences that investors here need to fully understand in order to appreciate the risks and subsequent potential gains prevalent in emerging markets." - Manoj C. Benjamin, Chairman RIRIC
"Global realtors are eyeing India - the opportunities here are mind-boggling." - Andrew Irvine, General Secretary of FIABCI (International Real Estate Federation), Times of India
"As recently as this past October, Ernst & Young has stated that India is becoming the fastest growing economy in the world slated to surpass China in GDP growth by 2013. RIRIC's story isn't just the story of one person and a company, but a story that weaves time, place, hundreds of visionary people, an Indian market set to explode, stimulation of bilateral international economic opportunities, and acclimatization to India's emerging market. While there will be a lot hard work and myriad challenges I believe RIRIC's brightest and most innovative days are ahead." - Manoj C. Benjamin, Chairman RIRIC
About Royal Indian Raj International Corporation
Royal Indian Raj International Corporation (RIRIC), incorporated in Nevada, USA in March 1999 with offices in Vancouver, New York and Bangalore, India, maintains a country-specific, 5-sector heavy infrastructure orientation, focused on the free world's largest emerging market: India. RIRIC's goal is to develop the New India by modernizing housing and businesses and realizing self-sustaining cities of the future. RIRIC implements leading edge technologies and products in strategic alliance with world-class international corporations. Partnered with these international leaders in their respective fields, RIRIC is focused on five of India's priority infrastructure sectors using a vertically integrated business strategy: Urban Infrastructure & Housing; Road Building & Recycling; Broadband Communications & IT Networks; eCommerce/IT & Education Appliances and Broadcast Content; Entertainment & Theme Parks.
Twittercue: BCSC closes investigation into Royal Indian Raj International over allegations of alleged fraud.
Union Urban Development Minister to Review NRI City Project
Times of India - Bangalore Bang: Rs 14, 000-cr City
RIRIC YouTube Channel
April M. Stewart (Agency)
Royal Indian Raj International Corporation
Public Relations Department
Web site: http://www. royalindianraj.com
Blog: http://www.royalindian. info
Financial: http://www. royalindianraj.com/#!company/ vstc8=financial-participation/ vstc2=investor-information
Technorati Tags: Royal Indian Raj International | Royal Indian Raj International Corporation | RIRIC | BCSC | British Columbia Securities Commission | India | Royal Garden Villas | Bangalore |Manoj Benjamin | township | township s | India emerging market | emerging markets | Eastern markets | permit clearances | Indian government | Indian government permit clearances | inaugural Royal Garden Villas & Resort Live-Work-Play community | Live-Work-Play | Morgan Stanley | Ernst & Young | Indian real estate | Indian real estate sector | Indian real estate challenges | Indian real estate developer | Indian urban transformation
YouTube - Videos from this email
Royal Indian Raj International Corporation launches multi-million dollar lawsuit against against former Vice President of Communications, William Zack for print and internet liable.
VANCOUVER, Apr. 22 /CNW-AsiaNet/ --
Royal Indian Raj International Corporation (RIRIC) announces today a $100M
USD lawsuit for Slander, Liable and Defamation of Character against RIRIC
former Vice President of Communications William Zack. The suit was filed in the
United States District Court for the Southern District of New York.
The RIRIC lawsuit, initiated in May of 2008 in New York, alleges that Mr.
Zack stole proprietary information, confidential data and contact lists from
RIRIC then, waged a slanderous smear campaign against the company in North
America and India. RIRIC alleges that in or around March 2008, Mr. Zack used
various fictitious anonymous aliases to communicate misinformation about
RIRIC’s business to the public through postings on unethical websites and
through a direct interview with a Canadian newspaper which was then later
excerpted by the Times of India newspaper. He also used the stolen lists to
communicate directly with shareholders, customers and alliance partners. RIRIC
contends this damaged the RIRIC trade mark, caused millions of dollars in
financial loss and a huge loss of client goodwill.
The lawsuit alleges that Mr. Zack misled RIRIC's principals and the public
to believe that delays in developing the inaugural Royal Garden City Project
and the Royal Garden Villas & Resort in Bangalore, Karnataka
(www.royalvillasandresort.com) resulted from mismanagement at RIRIC as opposed
to India’s notoriously bureaucratic land development process, specifically the
delay of the [protected] Bangalore Regional Master Plan (approved only in Jan
30th, 2009) and India’s government upheavals. India has seen five failed
governments collapse in Bangalore since 2004. These factors have delayed
developments for over 400 Indian real estate developers in the vicinity,
including RIRIC. Mr. Zack also claimed that RIRIC exaggerated its developments
and wrongly used celebrity endorsements. RIRIC vigorously maintains that both
claims are invalid and untrue. In addition to filing the lawsuit in US courts,
RIRIC intends to prosecute Mr. Zack in India under Indian criminal law.
"Not only is this campaign un-factual and unethical, it has harmed our
company and its principal's reputation as a leader in the Indian Realty sector
under the Indian Government's Integrated Township program, " states RIRIC
Chairman; Manoj Benjamin. "Court systems provide legal ways for dispute
mediation and regretfully, Mr. Zack opted to air his grievances against us
through this online smear campaign. Annoying someone anonymously via the
Internet, through a website or even by email; however is a federal crime with
stiff fines and prison time. And beyond being illegal, this is a great shame.
Our business practices remain and always have been transparent and sound."
Mr. Zack's grievances began in November 2007 when he filed a lawsuit with
RIRIC and the company, in turn, filed one against Mr. Zack. Negotiations failed
and when an arbitration date at a Colorado court was set for February 2008, Mr.
Zack did not appear. In February 2009 his lawsuit against RIRIC in British
Columbia was dismissed, and yet his online defamation campaign continues.
Mr. Benjamin states that whilst this campaign was designed to hinder and
harm RIRIC's operations, development and sales in India, the company remains
focused, growing and strong. Soon RIRIC will be clearing permissions from State
and Central authorities not only on the inaugural Royal Garden Villas & Resort
project but larger projects including a new affordable housing project and a
special economic zone (SEZ).
"As pioneers in the Indian Realty sector we always predicted the real
estate market would open and thrive. Presently India's real estate market lacks
regulation and is therefore highly unstructured, disorganized and far more
challenging than anything that has been encountered in the West. Despite this,
we have held in there patiently with India's archaic permissions process and
weathered political resistance. We have loyal investors and now with
permissions being granted on the Royal Garden and Villas Township we are going
full throttle ahead. We are proud of our endeavors in India; one of the world's
most economically vibrant nations for real estate. We remain committed to its
growth and to providing housing for this nation for many years to come."
Looks like Royal Indian Raj and it's associates (Manoj Benjamin, Ravi Benjamin, Collins Benjamin, Anjula Benjamin, Sherri Vaters, Patrick Hinds - to name a few) are also being sued in Florida. Just another lawsuit to add to growing list of other fraud charges.
Note some of the additional business names listed in this suit. Very interesting.
Can I do a tax write off for the investment losses I had in Royal Indian Raj corporation? Will it get complicated since the property was in India? Since the investment was made in US dollars and the company is based in Nevada, i think it should be feasible?
OR should the invesment be first declared as a ponzi scheme before we can do a tax write-off?
Royal Indian Raj International Corporation ( RIRIC ) Gives Investor Royal Indian Raj Run Around.
Read the full story on the Vancouver Sun Website:
Royal Indian Raj International Corporation ( RIRIC ) Complaints. View All Complaints Now:
Royal Indian Raj International Corporation ( RIRIC ) Appears to be involved in Fraud. Read article. Decide for yourself.
Royal Indian Raj International Corporation Bangalore India Complaints - Read RIRIC Complaints now.
Royal Indian Raj International Corporation ( RIRIC ) Investors Fuming - Visit this website and Read All About it.
Manoj Benjamin is scrounging for money to prop up his ailing scam operation. Among other absurd claims, Manoj Benjamin claims to have already received the Pravasi award of achievement and has now made a 2nd claim that he is again receiving the award. The NRI institute ( NRIinstitute.org ) denies that Manoj Benjamin has ever been nominated for the award and states that he never will be nominated for the award. Manoj Bejamin is a career criminal. Manoj Benjamin tells the most outrageous lies to take money from the innocent. Do not be fooled by his sociopathic charm.
I have also invested lot of money in Royal Gardens project for last 2 years with absolutely no returns. Its been more than a year since I have requested the refund but no luck. I have hardly been able to get in touch with them but whenever i did, I had to listen to their ever growing lame excuses. I have talked to many people in their canada office.
I am sure there are lot of people in the same boat. Why is it that we are not able to do anything to get our hard earned money back except hope that they refund one day or just wait for them to run away with our money. I feel helpless and surprised that I cannot do anything.
I don't have much knowledge or time to take this matter legally and personally I think that it will take forever before matters get settled through legal route. But how about media? there's got be ways to get some help and put a closure to this fraud and help everything get their money back.
I have been reading articles about RG villas and their fraud scheme for last 2 years on a regular basis. I only wish I had similar research before investing the funds.
I am not sure if everyone is as puzzled like me, but would imagine some of you have taken certain extreme steps (not like me just hoping and hoping) to tackle this fraud situation and deal with liars like Manoj Benjamin and his brother Ravi Benjamin.
Just wanted to get the ball rolling and see what we can do together...
Points to Ponder:
If you're near the exit of a store and hear the security alarms go off as a customer exits, what is the normal ensuing scene that typically develops?
Does the customer:
i) Protest loudly and repeatedly to the security officer (and everyone else within earshot) that he had undertaken a legitimate transaction, but not bother to show the security officer his receipt?
Or does he simply produce his receipt; the proof of purchase?
ii) Run off to his lawyer and launch a multi-million dollar lawsuit against the security officer and possibly the store, without bothering to show the security officer his receipt?
Or does he simply produce his receipt; the proof of purchase?
iii) Tell everyone who might have any concerns about the legitimacy of his transaction to call him on the phone so that he could talk and talk and talk about the transaction?
Or does he simply produce his receipt; the proof of purchase?
The customer immediately produces his receipt; his proof of purchase, then merrily goes about his business.
Even a very young child, when accused of theft will turn his pockets inside in an effort to produce proof. Proving innocence with proof is an inborn human instinct. So why is it that all RIRIC offers to its inquiring investors is lip service? "Call us so we can talk."
If Royal Indian Raj wanted to simply and quickly silence its critics it would have offered immediate proof, and thereby made fools of all protestors in short order. Instead it posts "Corporate Statements" and other posts under aliases praising the integrity of RIRIC, while villainizing inquiring parties. It trumpets itself as the righteous party by launching a preposterously large lawsuit against it former Director of Communications, who their numerous search-engine-loving press releases fail to mention is also an investor in RIRIC.
RIRIC's representatives post libelous remarks on the internet about me, a former consultant, and while doing so conveniently neglect to mention that my company is also a RIRIC investor.
Questions to Ponder:
1) Why did RIRIC choose Nevada to incorporate? Was it because Nevada law offers maximum protection to the corporation and its officers, while affording very little protection to its investors?
2) Why doesn't RIRIC provide its investors with financial statements?
3) Whay doesn't RIRIC hold Annual General Meetings?
4) Why hasn't the Royal Garden Villas Developer built a single thing in over 10 years? Knowing that permit issuance often is delayed, why didn't RIRIC foresee the delay issue and use a small portion of the millions acquired from investors and villa customers to purchase land available in the Bangalore area, which already had permits in place while awaiting permits on the RGVillas property?
5) How could RIRIC reasonably believe that it could enter into the public stock market without audited financial statments in place?
6) Why did Royal Indian Raj wait nearly a year after lauching a lawsuit against its former Director of Communications to issue a press release on the lawsuit? Is this just a psychological ploy to regain consumer confidence and boost RIRIC's voice in the search engines? Is it intended to intimidate others who would voice their legitimate concerns? And why did the press release omit details about the countersuit launched against RIRIC by the former Director of Communications? Why did it not mention that the former Director of Communications is also an investor?
7) Why has RIRIC shrunk from over a dozen employees in its Vancouver head office, to a mere 4? And why were staff let go without proper notice and proper payouts? Why did the former employees and associates choose to leave and to cut ties with RIRIC?
8) Instead of sending out a newsletter announcing an absurdly large lawsuit against the former Director of Communications, why didn't Royal Indian Raj spend the time and money more productively by sending out an investor newsletter with supporting documents such as: past financial statements, past Annual General Meeting minutes, an invitation to the next AGM, and other various documents that RIRIC should be producing as proof of its transparency.
9) Why did RIRIC spend hours and hours formulating a slick press release announcing a year old lawsuit and then waste more time and money deliberating over it with a lawyer, but not spend 1 single hour compiling documented proof for investors?
If you were a prinicple in RIRIC would you:
i) spend hours on internet posts?
ii) spend hours talking talking talking?
iii) spend lots of investor money launching and fighting a lawsuit against a RIRIC investor?
Or would you simply flash the proof, thereby immediately silencing your critics, then get on with business?
Some of you may have noticed that Royal Indian Raj has changed its IP address. For an update on RIRIC's electronic evidence trail that they've left behind on the India Consumer Complaints Board, please see the following post at:
TO ALL RGVILLAS CUSTOMERS,
I am customer with Royal India Raj and have invested a lot of money with there rgvillas project which I doubt will ever take of. I bought the property Medina in 2006 when the company was promoting Vijay Amritraj heavily. Being naive I got sucked into buying the property and paid the money in full to avail the 30% discount. Now there is no Amritraj/Nickalaus/Steven Seagal and the company is even banned from Marketing in BC CANADA. Read articles below:
I had asked RIRIC to refund my money in August 2008 and they bluntly refuse to do so. I am warning all potential investors out there who want to invest in this project or are going to start their installment payments.
PLEASE DO NOT SPEND YOUR HARD EARNED MONEY ON THIS PROJECT!! YOU WILL NOT GET ANY RETURNS AND WILL LOOSE THE PRINCIPLE AS WELL. ONCE THEY HAVE YOUR MONEY KISS IT GOOD-BYE.
If you want any further information and still have doubts on the validity of the post please contact me at [protected]@yahoo.com. I can provide you 100's of email exchanges I had with the company executives to refund my money and their continual refusal to do so.
Again I am a customer of RGVILLAS who has been duped of his blood sweat money and want to help others customers from getting duped.
That is the only motivation I have left.
Sick of all the hearsay and want proof of how RIRIC conducts its business? Check out the electronic evidence trail RIRIC has left behind over at the India Complaints Board:
The British Columbia Financial Institutions Commission, citing a variety of violations by Manoj Benjamin and...
Hello to the infamous "anonymous" Mr. Bill Zack. The owner of the website he often boasts in his many anonymous names and fictitious characters he has posted around many blogs through out the web. What he doesn't boast is the fact he is in a legal lawsuit the company Royal Indian Raj for Slander, Defamation along with many other charges. What he doesn’t boast is his first website he posted was hosted in the USA and was ordered to be removed from the web at which time he decided to develop a new site with a new name in an Asian country (Do not want to name the country in an effort to not offend) that does not abide by Western laws. This country is popular for hosting websites of an illegal nature where the cowardly persons hiding from the laws of western society can post their unwanted business and lies. Mr. Zack is forced to host his website next to the illegal likes of child pornography and other low life beings.
Royal Indian Raj and Royal Garden Villas are extremely well documented and anyone is welcome to visit our offices and do their own due-diligence to verify the facts. The company has been stuck in the same quagmire as over 400 other developers owning land in the North Bangalore quadrant. The governments that rule this area have been challenged to finalize the area development plan for well over 6 years now with the effects being that building permits have also been frozen and the development in the quadrant has been at a virtual standstill. These are the delays that have a few investors uneasy and some have chosen to fall into line with Mr. Bill Zack a former disgruntled communications officer of the company. The company is now happy to announce that after 4 years and 5 state governments the North Bangalore area plan is passed and the wait is almost over. Construction will commence this spring and all negative blogs posted by Mr. Zack and his few followers will become mute. On a final note, please be advised that if you follow the negative blogs of so called fraud and scamsters posted by Mr. Zack, you will find it goes at times back as far as spring of 2008. The company is in full operation, the doors are open and the company is not hiding. If the fraud and such that Mr. Zack is promoting was true and as one might say exposed, how is it that the company is in the open and not hiding???
If anyone would like to verify the truth, please feel free to contact us at 604.685.7442.
The message from "Ranga" is hilarious because it was clearly written by Manoj Benjamin. No lawsuits on file?...
I certainly was a little upset until I investigated the Bangalore Airport Authority and the status of the BIAPPA Regional Master plan holding up the Royal Garden Project and the release of over 400 other projects in the vicinity. I am also advised of two articles posted by the Times of India in Dec, 2008 announcing the Master Plan approval date mandated by the Supreme Court and the 2ND announcing the notification of the Master Plan in Jan, 2009. Upon which permissions are given at the Royal Garden site. The Delhi Development Master Plan took about 8 years to clear with all the Indian Bureaucracy and the Bangalore North Master Plan stalling with a history of 5 failed governments over 4 years in Karnataka more than explains the malaise clearly beyond any ones control.
I also did a legal check they have been in the same place Vancouver for the last ten years. There’s no lawsuits on record with Royal Indian Raj except the one with the fired media guy Bill Zack out of New York and that's on line and clearly outlines what Mr. Zack is trying to do on line with his allegations/frustrations and theft of confidential customer and shareholder lists to which he sends information. The lawsuit by RIRIC is for Slander, Liable, defamation of Character, Theft of Confidential Data lists and other Proprietary Matters etc and the people helping Zack .It seeks damages in excess of 100M(USD).
A police check was done in Canada and in India they came out clean. I also tried to contact some of the compliant authors and many remain anonymous and aren't even shareholders or customers. I cant say that about DLF which has over 3000 lawsuits, Unitech with over 2200 lawsuits and mounting and Prestige in Bangalore with hundreds of law suits alone with there recent building issues including collapsing of buildings resulting in the entire top management getting arrested last week.DLF market cap went from 38B(USD) to 7B(USD) in less then 15 months with Unitech suffering a similar fate. So remaining private and having only ONE lawsuit with a fired disgruntled employee over here doesn't look to bad it actually tells me a story of how clean these people are.
Its pretty clear from my investigation that the Benjamin's and Royal Indian Raj are caught in the Indian and Karnataka Government bureaucracy nothing more and are the victims of a western individual who worked as the media director at RIRIC quarterbacking a misinformation campaign this last 7 months trying to defame there name and assassinate there character and trigger refunds among the customer base actually depriving customers of there profits. I also have found documented history of large land assemblies in Bangalore and other parts of India including Mumbai over there ten years as pioneers in the Indian Real Estate Sector both on-line, from the Government of India and from there lawyers including ownership of the RGV site by the principals. Its easy to see on a Google Search of there name under Royal Indian Raj International Corporation many recorded achievements including the Royal Garden City development in 2003/2004 as well the Indian Government giving them the 1st Foreign Direct Investment approval in the Integrated Township sector in 2004. That’s even on the Indian Government website. I even went to the Zack site and found plagiarized press releases with dates different from the actual Royal Indian Press releases on Google and on their company sites. Zack is also using his friend Mike Malette mentioned in his site whos quoting on this site.In light of this I went from negative to positive as its clear there’s a play to tarnish the firms’ image and its founders with a bad case of sour grapes.
Finally the people I contacted at the firm are more then straight forward and put me thru to the relevant Government ministers and senior people who have been diligently working with Royal Indian Raj including the Chief Minister of Karnataka and the Chairman of BIAPPA who have more than satisfied my inquiries regarding RIRIC’s application and the status of the Govt.s stalled Masterplan in Bangalore North. Royal Indian even shared with me binders of Due Diligence Documents evidencing there entire ten year history and all the contracts signed it is very well presented. The initial 17 acres is to be expanded to a larger land assembly on the Government Master Plan finalizing which makes perfectly good sense who would do other wise with out permissions. There are even other Royal Indian land assemblies in Bangalore north which are legally documented as alternatives. As well I was given names of many people who sought refunds and were paid out. It is only recently that the unprecedented recent world wide events resulting in 10 trillion in losses in USA alone among the biggest firms in the world including Freddie Mae, Freddie Mac and the Bill Zack misinformation campaign disseminated to RIRIC customers/shareholders/alliance partners that the firm has postponed retirement of the handful of refunds until the site permissions get in and structured finance is placed on the site. That makes sense as well Bill Zack doesn’t want the firm to get permissions and build the project.
So I am excited with the Times of India articles reporting what the Benjamin's and Royal Indian Raj have been saying all along about permissions and hanging projects. The Bangalore North Master Plan has been signed and is going to be notified in the papers and passed to law in Jan and the RGV project gets provisional permissions automatically. The project will be sold out on approvals and with the opening of the New Bangalore Airport in June after an 18 year journey with the Government of Karnataka. Land values have skyrocketed in the vicinity and so has my investment so after waiting this long seeking a refund makes no sense on a substantially sold out project where I actually have an appreciating asset and am making money. Soon Bangalore north is to become what Gurgaon is to New Delhi.
In my opinion Royal Indian has been bang on. On there pronouncements and there reporting on the market hang ups and Government position regarding the delays has been accurate and I thank them for there co-operation.
I put in an enormous amount of money as a share holder of Royal Indian Raj on the basis of CEO Manoj Benjamin's word that he would get it to the market trading within two years at the most. Well, it has been 8 (eight) years later and the only thing he has truly accomplished is stealing money from more suckers like myself. This man is truly a scam artist personified. He drives fancy cars and lives in a high end home while picking up bills for everyone at the bars. I would highly recommend any one NOT to invest in this crook. It will be a cold day in hell when anyone sees any of their investments or deposits from this company. There's a reason they are not getting their permits! Can anyone say "unprofessional, pompous and rude?"
I will be holding my breath for a long time before I get any of my money back - buyer beware.
To all rgvillas investors and potential investors (www.rgvillas.com) BEWARE:
This company is playing with peoples hard earned money. I had invested with the company in september of 2006 a sum of $147, 820 US dollars.
Till date the construction on the project has not begun and the company does not even have the BIAAPA approval it needs for the 17 acres of land it claims to own. Interestingly the land is not owned by the company and is owned by an individual who might not even work for the company.
I had asked for a full refund of my money 3 months back and till date I haven't seen any part of my money back. The company and it's employees simply refuse to answer my phone calls or reply to my emails.
To all potential investors out there if you care for your hard earned money please don't invest with RGVILLAS / RIRIC / RGCEPL. This company has many names but the goal is the same defraud unsuspecting investors of there hard earned money. BELIEVE me once they have your money kiss it good bye.
If you are still not convinced please feel to contact me on my email address [protected]@yahoo.com. I can provide you with hundred's of proof's/emails/documents supporting my claim.
I am looking for investors from British Coulmbia - CANADA please contact me immidiately as I may be able to help.
I think everyone realizes by now that THE APPROVAL OF PERMISSIONS IS MEANINGLESS as the real question now i...
JACK NICKLAUS TERMINATES ITS AGREEMENT WITH ROYAL INDIAN RAJ!
Jack Nicklaus issued a Press Release on NOVEMBER 26th, 2008 and it is now SIX, SIX, yes SIX DAYS LATER (Dec 2nd, 2008) and Royal Indian Raj and the Benjamins HAVE NOT informed Customers or Investors!!!
FRAUD AND DECEPTION?
Royal Indian Raj HAS NOT even removed Jack Nicklaus's name from their websites (www.royalindianraj.com, www.golfindia.com, www.rgvillas.com) inorder to ensure that the Customers and Investors (existing and any potential) are not MISLED!!!
FRAUD AND DECEPTION?
This is exactly the same thing they did when VIJAY AMRITRAJ ENDED HIS ASSOCIATION with Royal Indian Raj. Then, as well, Royal Indian Raj and the Benjamins just continued using Vijay Amritraj's name to LURE IN MONEY FROM CUSTOMERS AND INVESTORS!!!
FRAUD AND DECEPTION?
They try to distract us with their postings here under the alias pen names SimpleTruth, DeepaM, Ranjeet. Who cares about the credit crisis, the slow down, the permissions? WHAT ABOUT FRAUD AND DECEPTION?
An INVESTMENT IS USELESS if you CANNOT TRUST the people that you give your money.
Is this the DIS-HONESTY that Customers and Investors deserve from Royal Indian Raj and the Benjamins??
Is this the DISRESPECT that Customers and Investors deserve from Royal Indian Raj and the Benjamins??
Is this where OUR, OUR, yes, OUR HARD EARNED MONEY is going??
WELL NOT ANYMORE!!! YES, NOT ANYMORE!!!
Anyone who does not withdraw their investment should by this date realize that YOUR MONEY (from past and future investment) will probably go directly TO PAY FOR THE LEGAL COURT AND LAWYER COSTS of Royal Indian Raj and the Benjamins FOR ALL THE LAWSUITS ALREADY IN PROGRESS AND THE MANY TO FOLLOW.
NO, not for my money, NO more, NO more distractions, NO more pretty brochures, NO more investment, I want my investment back to me now!!! WHERE IS MY MONEY??? WHERE HAS MY MONEY GONE???
Anyone who falls for any MORE EXCUSES OR DISTRACTIONS from Royal Indian Raj and the Benjamins are complete fools. How will Royal Indian Raj and the Benjamins build anything if they are IN PRISON??? HAVE FUN PAYING FOR Royal Indian's and the Benjamin's LEGAL COURT AND LAWYER COSTS WITH YOUR INVESTMENTS !!!
I only found the news by accident myself.
You can go to
to read more about Jack NIcklaus terminating the agreement. There is also a link there to the actual Press Release form Jack Nicklaus.
We have noticed that on the Royal Garden Villas website ( www.rgvillas.com ) the image of Jack Nicklaus no longer appears on the website endorsing the project. We also noticed on the website that an 18 hole Jack Nicklaus Signature Golf Course is no longer listed as an amenity on the project. We are told that there was no contract for an 18 hole Jack Nicklaus Signature Golf Course on this project as there has never been enough land other than the 17 acres and that Jack Nicklaus has ended any association. However you should confirm this with the Jack Nicklaus Design group. Contacting the Nicklaus Design group rather than Royal Indian Raj may be the only way to ensure complete certainty that you are receiving the truth.
You may wish to contact Scott Tolley at Nicklaus Design to confirm why it appears that Jack Nicklaus is no longer endorsing the Royal Garden Villas project and why Jack Nicklaus ended association. You may also wish to contact Scott Tolley at Nicklaus Design to confirm if Nicklaus Design ever had a contract to build a 18 hole Jack Nicklaus Signature Golf Course on the Royal Garden Villas project site and if there ever was land for such a golf course. It may be prudent to get such confirmation in writing
Why does the image of Jack Nicklaus no longer appear on the website endorsing the Royal Garden Villas project? Why would Jack Nicklaus endorse the project in the first place and it appears not now?
The contact details for Scott Tolley of Nicklaus Design is telephone (USA) [protected] and email
It appears there is no guarantee that other amenities, if not all, will not be eliminated after permissions are obtained. Do you have a written guarantee?
We understand if anyone wished to secure and ensure a refund that the request should be made in writing before permissions as per the purchase agreement and without delay.
As we understand, after permissions further payments, as per the purchase agreement, will automatically become due regardless of what amenities remain, if any at all, and that it will be very difficult to obtain a refund after permissions.
As we understand, if anyone wishes to secure and ensure a refund you must must submit a written written request as per directions in the purchase agreement before before permissions and without delay, and failing to do so may require going to court to obtain a refund.
They have taken money from me promising construction of villa (RG Villas) in Bangalore within 8 months. That...