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Ramdev’s business empire worth over Rs 1,100 crore!
PTI / The Hindu.
The Patanjali Yogpeeth Trust of Baba Ramdev based in Haridwar, Uttarakhand, is worth Rs. 164.80 crore according to the balance sheet released on Thursday. Photo: Virender Singh Negi.
Yoga guru Ramdev, who is on an indefinite hunger strike against black money and corruption, on Thursday made public details of his business empire worth over Rs 1,100 crore, claiming everything was in order.
On his sixth day of fast, Baba Ramdev addressed a press conference here during which his close aide Acharya Balkrishna said that the capital involving the four trusts run by him totalled Rs 426.19 crore while the expenditure incurred on them amounted to Rs 751.02 crore.
“We believe in transparency in work and in financial matters. There is proper audit of all our firms and companies.
Acharya Balkrishna, however, did not give details of the companies associated with Baba Ramdev, saying it can be obtained from Registrar of Companies under the RTI Act.
My Take:
01) Most trusts in India, registered as not-for-profit entities, have been known to indulge in rampant profiteering, while enjoying the 'Income Tax Exemption'.
Many such trusts even issue 'Cash-Receipts' for, far larger amounts to Individuals, Hindu Undivided Families and Businesses, in turn enabling them to evade Income Tax, than they receive as donations.
02) And as for, very closely held firms, registered under Indian Companies Act of 1956, also do have their own skeletons, in cupboards.
And many of them get away with declaration of lower turnovers to avoid, external audits and a closer scrutiny by the Indian Income Tax Department.
And this is done with the connivance of some corrupt tax officials.
03) My advise to the Journalists and other Public Spirited Citizens who wish to obtain information of Ramdev's Companies to also obtain info. from the following:-
A) CPCB and / or Uttarakhand Environment Protection and Pollution Control Board (UEPPCB) to find out whether the manufacturing industries under Ramdev's ownership, directly or indirectly, have all necessary permits and licences and whether there had been any announced or unannounced inspections done ever since they were established and if so the relevant records.
B) Whether all these companies pay minimum wages as per the local Labour Laws and give equal employment opportunities to all, irrespective of their religion, colour or gender and also strictly adhere to the legal timings of work, provide safety gear and Protection against occupational health hazards.
C) Do they have permissions from the local Police, health department, forest department and Fire department?
D) Whether all these companies extend full Statutory Benefits as required under laws to all their employees.
E) Whether an EIA had been conducted while establishing these manufacturing Units and whether duly publicised 'Public Consultations' had been held, if so the related records.
F) Whether these companies have published EMPs and if so records of their compliance, on an annualised basis.
As per the EIAs and EMPs what are the lists of Air-Pollution, Effluents and Solid Wastes, they generate?
G) Whether any of these manufacturing Units come under Indian Excise Laws and if so the relevant records.
H) Whether these manufacturing Units are involved in Export-Import, if so the related transaction details to check whether lower invoicing or over invoicing have, ever, been done by any of these companies.
I) Whether all these companies are upto-date in submitting their Audited Annual Financial Statements to RoC.
J) Finally, whether all these companies file their audited annual returns to the Income Tax Department and if so the relevant records.
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