http://timesofindia.indiatimes.com/india/Remittances-by-Ramdev-under-ED-scanner/articleshow/9595773.cms

Remittances by Ramdev under ED scanner

Pradeep Thakur, TNN | Aug 14, 2011, 01.50AM IST

NEW DELHI: The stage is being set for action against yoga guru Baba Ramdev, with a multi-agency probe revealing that companies owned by his trusts have clandestinely sent large amounts of money abroad, official sources said. 

These entities are among 100-odd companies owned by Baba's trusts in Kanpur, some of which were launched as late as last month. 

The Enforcement Directorate is investigating two large remittances allegedly made by Ramdev's trusts -$300,000 sent to London and $80,000 sent to Madagascar, an island off the southeastern coast of Africa. 

RBI has been asked to look into the case and verify if an approval was sought before these fund transfers were made, sources claimed. 

Ramdev's spokesperson SK Tijarawala made light of the ED's suspicion, but refused to comment on the two remittances under scanner. 

Ramdev's interest in acquiring a large number of ayurvedic companies in Kanpur has raised alarm, though investigating officials are awaiting responses from registrars of companies from several other states as well. 

The Kanpur Registrar of Companies has sent to the agency two CDs containing information on the 100-odd companies now owned by Ramdev's trusts, including Patanjali Yogpeeth, a senior official said. 

Probe findings may take sheen off Ramdev 

If the Enforcement Directorate's suspicions that Baba Ramdev's expanding empire - with a stated annual turnover of Rs 1,100 crore - is indulging in moving huge amounts of money abroad are borne out by a multi-agency probe, it could take the sheen off the yoga guru's anti-black money campaign. 

Agencies are trying to find out if the turnover of Ramdev's companies are much more than what he has declared. Ramdev's empire is controlled by his flagship Patanjali Yogpeeth trust based in Haridwar. Besides Patanjali, there are other trusts and several commercial enterprises associated with them. No tax is paid on income from any of these sources. 

The agencies are finding it difficult to accumulate information on Ramdev and his associates' commercial activities as many of these enterprises are registered in different cities. While I-T's exemption unit in Delhi has returns of some trusts, others are assessed with the respective chief commissioner's office in Uttarakhand and some other states and are yet to be centralized.

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