HYDERABAD: Businessman Gajjala Yoganand has claimed that NRI businessman Pavan Nallamala, an existing customer, had advanced funds in 2021 to Manjeera Constructions Ltd and to him as unsecured loans for a real estate venture.
In a statement issued in response to reports regarding an FIR registered by the Economic Offences Wing (EOW) of the Cyberabad police, Yoganand said that Manjeera Constructions Ltd and he were presently undergoing proceedings under the IBC before the NCLT.
He further alleged that the FIR was based on “false allegations” and said the department should have verified the facts before registering the case.
Yoganand also clarified that he is not presently associated with any political party and was focusing only on his business.