ED files foreign exchange violation case against Ramdev

The Directorate registered the case on the basis of a report from the RBI for "export outstanding" of few crores by the trusts run by Ramdev and inputs by some banks which were instrumental in channelising transactions of these firms.

Also under the scanner of the agency is the Little Cumbrae Island, off the fishing town of Largs in Scotland, which serves as Ramdev's base overseas and also as a wellness centre.
Reacting to the development, Ramdev said he has not done anything wrong or illegal.

"I have not done anything wrong or illegal. During my two-decade-long public life, I have replied to all questions raised about me with ample proof," Ramdev told reporters in Haridwar.

ED sources said the agency was ascertaining the status of transactions that were done by these trusts while exporting consigments of Ayurvedic medicines to foreign countries.
"The receipt of payments in regard of sale of these consigments are to be explained and it has to be ascertained if these were in contravention of the forex rules laid down by RBI," sources said.

The ED is expected to issue summons for want of further information from these trusts, run by Ramdev, soon.

"Regarding media report of ED registering case, we state that our trusts don't have any information about the case so far. We have been law abiding organisations," S K Tijarawala, Ramdev's spokesperson said in a statement.