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It appears Lawsuits are popping up all over the place.
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 the growing list.
http://www.courthousenews.com/2010/09/14/Ponzi.pdf
Note some of the additional business names listed in this suit. Very interesting.
I hope the courts can ensure the Benjamins show up for their trials. Ravi Benjamin and Sherri Vaters have moved to India and are likely on the lam with their father, Collins Benjamin. With $16 million dollars of stolen funds, I'm sure they are living quite comfortably.
these types of actions in the legal courts are long since due.those who do not now similarly file legal complaints will be left with no legal means to have their stolen funds returned to them.it is a shame to see such evil persons prosper with so little a number of persons filing legal actions.
Krishna perhaps you can provide information on lawsuit for royal garden villas.Other rgvillas customers please do the needful thing in joining together.Bangalore police have been helpful but limited in full information.They themselves seek more information from royal garden villas customer from Bangalore and usa.Let us now please join and fight such corruption.Royal Indian Raj Royal Garden Villas Royal Garden City Enterprises PVT are companies to be named in lawsuit.It is my feeling all other participants in this scheme should also be named personally.Collins Benjamin Manoj Benjamin Maya Benjamin Anjula Benjamin Ravi Benjamin Sherri Vaters and salespersons also.
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.
QUOTES
"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.
RELATED LINKS
Union Urban Development Minister to Review NRI City Project
Times of India - Bangalore Bang: Rs 14, 000-cr City
RIRIC YouTube Channel
RIRIC Facebook
RIRIC Twitter
CONTACT INFORMATION
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
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