Cheating case: Yoganand denies allegations

Hyderabad: The day after Cyberabad’s Economic Offences Wing (EOW) registered a criminal case against businessman Gajjaja Yoganand based on a complaint from a non-resident Indian (NRI), Yoganand denied the allegations in a clarification.

According to Yoganand, in 2021, Pavan Nallamala, an NRI, had provided him and Manjeera Constructions Ltd with an unsecured loan for a real estate business.

“Manjeera Constructions Ltd and I are currently subject to proceedings under the Insolvency and Bankruptcy Code (IBC) before the NCLT/NCLAT/Supreme Court. The exact nature, liability and enforceability of such transactions, if any, are subject to legal scrutiny and adjudication before the relevant bodies. As the matter is sub judice, it is incorrect to present unverified accusations as facts without any conclusive judicial determination,” he said.

“The FIR registered by the Economic Offences Wing is based on false allegations. The department should have verified the facts before registering the case,” he stated.

Furthermore, Yoganand claimed that he is no longer associated with the BJP.