Ramdev, trust in ED trouble | delhi | Hindustan Times
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Ramdev, trust in ED trouble

The Enforcement Directorate has found some unexplained foreign transactions in its probe into the affairs of yoga guru Baba Ramdev and one of his trusts. HT reports. Under the scanner

delhi Updated: Sep 02, 2011 11:32 IST

The Enforcement Directorate (ED) has found some unexplained foreign transactions in its probe into the affairs of yoga guru Baba Ramdev and one of his trusts. The ED is probing Ramdev and his trusts for alleged violations of the Foreign Exchange Management Act (Fema).

Ramdev, however, said in Haridwar he had done nothing illegal. “During my two-decade-long public life, I have replied to all questions raised about me with ample proof,” he said.

Investigators said a sum of R7 crore has been found in some exports of ayurvedic medicines by one of Ramdev’s trusts. Around 20 trust firms have come under scanner so far. Besides, in some instances about R3 crore was sent outside India for various purposes that need explanation, ED sources said. http://www.hindustantimes.com/images/HTPopups/310811/02_09_pg1c.jpg

“We want to know where the money was spent outside India and whether some property was acquired. What was the real cost of the property? Was it undervalued? We are trying to find answers to these questions,” said an investigator.

If Ramdev or his trusts are found to have violated provisions of Fema, a fine three times the amount involved will have to be paid as this is a civil case and not a criminal one.

The ED is also probing a deal involving an island called Little Cumbrae, off the fishing town of Largs in Scotland. Ramdev has renamed it as Peace Island, and it is believed to serve as his overseas base.

Agency sources said that if they get evidence that these unexplained transactions violate Fema, the directorate will file a complaint with the adjudicating officer, who is usually a senior officer of the directorate. ED officials might the call officer-bearers of Ramdev's trust to explain the transactions.