Hyderabad: BRS leader M Krishank alleged on Friday that the Telangana government has claimed an investment of Rs 340 crore from a company named Manakin Bio, which was established just five days ago with a meagre paid-up capital of only Rs 1 lakh.

Addressing a press conference, Krishank questioned the government’s timeline: “How can the government claim an investment of Rs 340 crore five months ago, when the company, belonging to directors from Eluru and having only Rs 1 lakh paid-up capital, was established just five days ago?” He alleged that the Congress government was bringing in bogus investments. The BRS leader claimed that previous announcements involving companies such as Godi India, Swachh Bio, Walsh Karra, and Ursa Cluster exist only on paper, with no tangible presence on the ground.

Krishank cited the latest example of the Rs 340 crore Manakin Bio investment, which was first announced in June 2025. He pointed out that the company’s formal registration with the Ministry of Corporate Affairs was only completed on November 12, 2025. “This is a rare incident of a whopping investment being claimed even before the company was registered, and the paid-up capital is also just Rs 1 lakh,” he remarked.

Krishank further alleged that the company had only two directors from Eluru, YathirajamMadhushesh and YathirajamAnusooya. He stressed that announcing Rs 340 crore with such minimal credentials is a clear example of bogus investments. He said there was a strong suspicion that such shell companies were being used to convert black money into white.

Replying to a question on Formula-e, Krishank highlighted the genuine benefits brought by the previous government, noting that companies like Bility Electric, Attero, Amara Raja, and ALLOX have invested thousands of crores. He credited the previous administration's EV policy and progressive industrial policies for ensuring these investments translated into real factories on the ground.

The BRS leader demanded that the current government take up an immediate investigation into these bogus investment cases and expose any attempts to convert black money to white through shell companies. The Congress government must immediately answer the people of the state for misleading them, the BRS leader concluded.