Dhoni in Trouble, 11 FIRs Filed in G Square Housing Scam

The Expanding Shadows of the G Square Housing Scam: MS Dhoni, Political Ties, and the Web of Deception

The ongoing G Square Housing scam has escalated into one of the most contentious real estate controversies in Tamil Nadu, with cricketing legend MS Dhoni now at the center of the storm. Accused in 11 FIRs filed by disgruntled homebuyers, Dhoni’s role as the brand ambassador for G Square is under scrutiny. The allegations suggest that his endorsement, combined with the company’s aggressive promotional tactics, lured investors into projects that lacked the required approvals. Buyers assert that Dhoni’s association lent legitimacy to the company, making it seem like a trustworthy entity when, in reality, it was allegedly orchestrating a massive scam.

The gravity of these allegations deepened when reports surfaced about the dubious practices of G Square’s founder, Ramajeyam alias Bala. Operating through an intricate network of 45 companies—ranging from G Square Zamin Properties LLP to G Square Greenrope Developers LLP—the company allegedly created a labyrinth of firms to conceal its financial misdeeds. Most of these firms were co-registered with Bala’s wife, Sreekala, raising questions about their purpose and operational transparency. The astonishing number of entities—ranging from real estate ventures to logistics parks—suggests a well-planned strategy to evade scrutiny while laundering money.

The list of 45 entities reveals the sprawling nature of G Square’s operations:

  1. G Square Zamin Properties LLP
  2. Lotus Horizon Developers LLP
  3. G Square Builders LLP
  4. G Square Real Estates LLP
  5. G Square Housing Developers LLP
  6. G Square Zara Buildmore LLP
  7. G Square Signitive Buildon LLP
  8. Focus Creators LLP
  9. Pearl Ground Realtors LLP
  10. KMA Finished Leathers Private Limited

…and the list continues up to G Square Land Holding Private Limited, ANGR Property Developers Private Limited, Feronia Realtors Private Limited, Mannur Land Developers Private Limited, Vivian Ground Land Private Limited, Lotus Realty LLP, G Square United Realty LLP, G Square Land & Building LLP, G Square Creators LLP, G Square Queengate LLP, G Square Land Design LLP, Think Success Real Estate LLP, Sai Venkat Keerthi LLP, G Square Home Developers Private Limited, Lotus Castle Private Limited, Lotus Ventures & Infrabuild Private Limited, AGR Infrabuild Private Limited, Groenston Industrial and Logistics Parks, Philocaly Realtors Private Limited, G Square Zamin Estate LLP, Lotus Residential LLP, G Square Constructors LLP, G Square Greenrope Developers LLP, G Square Real Promoters LLP, G Square Ecosense Creations LLP, G Square Addcom Creations LLP, G Square Pendo Creators LLP, G Square Guneet Developers, Limitless Creators LLP, Kanaga Durga Industrial & Logistical Parks LLP, G Dot G Builders & Promoters Private Limited, G Square Hi-Tech Builders Private Limited, G Square Ground & Promoters Private Limited, G Square Layout Private Limited and Mannur Square Land Private Limited .

Financial history of G Square raises red flags. Despite showing losses of ₹7 crores and ₹8 crores in 2020 and 2021, respectively, the company claimed an astronomical turnover of ₹2,000 crores in the latter half of 2021, coinciding with the DMK’s rise to power. By 2022, the projection surged to ₹4,000 crores, despite no reported business activity between 2017 and 2020.

Political and Administrative Ties

The political connections of G Square further complicate the case. The company is often referred to as a “DMK firm,” with allegations of leveraging its ties to influential political figures, including the son-in-law of Tamil Nadu Chief Minister, Sabareesan. These alleged connections have emboldened the company to bypass regulatory requirements. One complaint filed with the Chief Minister’s cell pointed out that G Square launched a project named “Rhythm” in Theni without securing mandatory DTCP and RERA approvals. The project reportedly duped 500 buyers, each of whom paid ₹1 lakh.

The company’s CEO, Eshwar, claimed unprecedented growth post-2021, conveniently aligning with DMK’s ascension to power. This connection has led to allegations of favoritism, with G Square purportedly receiving undue benefits from government authorities.

The involvement of MS Dhoni adds a high-profile dimension to the case. Homebuyers allege that Dhoni’s stature as a cricketing icon and his role as G Square’s brand ambassador convinced them of the company’s authenticity. They argue that Dhoni’s reputation served as the primary driver behind their decision to invest, despite the company’s shady track record. FIRs filed against Dhoni demand an investigation into whether he was merely a figurehead or an active participant in the alleged conspiracy.

The buyers’ grievances resonate with deeper ethical questions about the responsibilities of brand ambassadors in India. While Dhoni may not have been involved in G Square’s operational decisions, his promotion of the company cannot be dismissed as mere advertising.

The complexity of the case grows with each revelation. Ramajeyam, previously the owner of Baby Electronics in Tiruppur, faced criminal complaints and financial ruin before reinventing himself as the Managing Director of G Square. His transformation from a struggling entrepreneur to the head of a company claiming ₹1,000 crores in turnover is emblematic of the scam’s audacity. Ramajeyam’s history is no less controversial. Previously running Baby Electronics in Tiruppur and Coimbatore, he faced criminal complaints and financial failures before launching G Square. Critics describe him as a conman, pointing to his involvement in multiple lawsuits and financial disputes.

The scam’s ripple effects have ensnared not just Dhoni but also media personalities and whistleblowers. Chennai City Police Commissioner Shankar Jiwal IPS is accused of acting as a protector of G Square, allegedly shielding the firm from legal consequences. Meanwhile, Junior Vikatan, a magazine critical of G Square, filed counter-complaints against Ramajeyam, accusing him of attempting to stifle free speech by filing false allegations.

The scandal extends beyond real estate, touching media and whistleblowers. Junior Vikatan magazine and whistleblowers such as Savukku Shankar have accused G Square of attempting to silence dissent through intimidation and false complaints. Notably, Kevin, a self-proclaimed associate of Vikatan, was arrested for allegedly demanding ₹50 lakh to suppress negative coverage.

A Call for Accountability

With its mix of high-profile figures, political entanglements, and public betrayal, underscores the urgent need for stricter regulations in the real estate sector. The labyrinth of 45 companies, Dhoni’s contested involvement, and the firm’s political backing paint a disturbing picture of systemic corruption and exploitation.

With the Economic Offences Wing and other agencies investigating the case. Whether justice will prevail or the powerful will escape unscathed remains uncertain, but the scandal has already exposed the vulnerability of homebuyers and the ethical lapses of corporate endorsements.