The Yoga Guru Ramdev Baba has landed in the soup in Nepal after the government claims that the Investments by Ramdev Baba amounting over Rs 150 crore were made illegally, violating the Foreign Investment and Technology Transfer Act.
It is mandatory for any foreign investor to take permission from the Investment Board of Nepal or the Department of Industries in order to invest in the country. Commenting on the issue, Ramdev said that he has not violated any law and the investments made under Patanjali Ayurved are in compliance with the foreign investment laws of the country.
Investments by Ramdev Baba in Patanjali Ayurved, Nepal create controversy for the Yoga Guru
“I do not have any investment in Patanjali Ayurved, Nepal…If I am going to invest in Nepal, I will take approval from the Nepal government. All investments in the Patanjali Ayurved, Nepal (were) made by Upendra Mahato and his wife Samata.”
-Ramdev said in an interview
He further added, “I have devoted my entire life fighting corruption, black money and financial misappropriation, and I am committed to financial transparency. So, there is no possibility that I would be involved in any kind of illegal investment in Nepal.”
Last Tuesday, on his visit to Nepal, Ramdev revealed his plans to invest Rs 10000 crore in the country and to further create over 20000 jobs.
Also, the Patanjali Yogpeeth Trust in Nepal, which is a non-profit organisation is said to be set up illegally. The famous yoga guru has denied all the allegations against him and said that he has not even commenced any investment project in Nepal.
A leading daily of Nepal stated that Ramdev has not complied with the norms stated under Foreign Investment and Technology Transfer Act and that, the act does not provide for investments to be made in the country by a non-profit organisation.