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FEMA violation case registered against Ramdev

Sep 01, 2011 11:55 AM IST India India
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New Delhi: The Enforcement Directorate (ED) on Thursday registered a foreign exchange violation case against Baba Ramdev and his trust. The Directorate has found evidence of Ramdev and his trusts receiving financial aid from the USA, Britain and New Zealand.

Ramdev and his trust reportedly received Rs 7 crore from Britain. The ED has formally registered a case under the provisions of Foreign Exchange Management Act (FEMA).

Investigations by the ED have found foreign remittances and inflow of funds to Ramdev and his various trusts including the Patanjali Yogpeeth Trust and Divya Yoga Mandir Trust.

Ramdev's castle on Scotland's The Little Cumbrae Island, is also being investigated. The island off the fishing town of Largs in Scotland, serves as Ramdev's base overseas and also as a wellness centre.

The ED is verifying the holding patterns and other details of the companies through the Registrar of Companies (RoC) and the Ministry of Corporate Affairs.

Ramdev's investments and transactions are also being investigated to find out if they were carried out in conformity with guidelines laid down by the Reserve Bank of India and other regulatory bodies.

Ramdev's close aide Balkrishna is also in legal trouble with the Central Bureau of Investigation (CBI) registering a preliminary enquiry (PE) against him for allegedly using forged educational certificate to acquire passport.

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