Baba Ramdev's Patanjali facing heat over 'suspicious' transactions, claims report

Patanjali Ayurved is reportedly under scrutiny from the Corporate Affairs Ministry over a series of financial transactions flagged as suspicious.

According to a Bloomberg report, the ministry sent a notice to the company after a federal economic intelligence wing identified certain transactions as “abnormal and dubious,” citing unnamed officials familiar with the matter. 

BT could not independently verify the claims made in the report and will update this article if the company or ministry responds.

The amounts involved have not been disclosed, as the probe remains in its early stages. Patanjali has about two months to respond to the government’s notice, Bloomberg added quoting sources privy to the matter.

Officials are also examining potential violations of corporate governance standards and whether there was any diversion of funds, the report added.

This is not the first time the company or its affiliates have drawn regulatory heat. Last year, a Patanjali unit faced government notices over alleged unpaid taxes and improper refund claims. 

Meanwhile, the Supreme Court had barred the company from advertising its products as cures for certain medical conditions.