Enforcement Directorate to probe Ramdev funds

In a crackdown on the yoga guru Baba
Ramdev’s mega business empire which
pans international locations as well, the
enforcement directorate will look at the
source of funds for Patanjali Ayurveda
promoted by Baba Ramdev. Many high net
worth individuals are under the scanner in
this probe.
The yoga guru runs two trusts: Patanjali
Trust and Divya Jyoti Mandir Trust, both of
which have tax exemption. But he also has
three companies: Patanjali Food Pvt Ltd and,
Divya Pharmacy, which produce Ayurvedic
products and Vedic Broadcasting Co. which
owns the Aastha TV channel.
Two separate arms of the finance ministry
will join hands in the probe. Directorate of
Revenue Intelligence will investigate tax
evasion and export -import violations, while
the Enforcement Directorate will probe
money laundering.
The DRI sources claim they suspect Baba is
money laundering through Patanjali
Ayurveda. Patanjali's has shown huge
exports to the US markets but most of the
products it exports are banned in the US.
The ED is investigating foreign exchange
violations by the trusts managed by Baba
Ramdev. High value transactions of several
high net worth individuals who have
contributed to the Trusts are under the
scanner.
However, the yoga guru has repeatedly
denied any wrongdoings.
“If the government has any complaints
about our finances and services – let them
not do it through press they should send us
a notice and we will give them a fully
detailed reply. They are just diverting
attention from my fight,” he said.
Baba Ramdev’s beleaguered anti-graft
hunger strike ended early on Sunday amid
violence, as Police stormed the protest site
with teargas shells and charging batons,
while the yoga guru himself was evicted out
of Delhi.