Baba Ramdev’s Patanjali is facing rough waters. For the uninformed, the Indian Medical Association has filed a lawsuit against Patanjali Ayurveda for spreading advertisements claiming cures for diseases and conducting a negative campaign against modern medicine.
Advertisements claimed that Patanjali’s medicines cured people with diabetes, hypertension, thyroid, cirrhosis, arthritis, and asthma.
Although this case has not reached a conclusion yet, I would like to introduce Mr. Patanjali’s story.
Baba Ramdev and Acharya Balkrishna founded Patanjali in 2006 with a large loan from the former’s followers.
Baba Ramdev, along with his helper Acharya Balkrishna, ventured into business in 2006 and took out personal debt of Rs 500-600 crore. He was able to secure such a large loan despite having no banking experience or even a bank account at the time.
Notably, NRI couple Sunita and Sarwan Poddar, who are ardent followers of Baba Ramdev, were the benefactors behind this financial support. According to reports, they also hold a 3% stake in the company.
The debt-funded Patanjali Ayurveda business currently boasts annual revenues of around Rs 55,000 crore. Balakrishna owns 94% of the company and Baba Ramdev is the face of the brand and also makes strategic decisions.
A Scottish NRI couple also gifted an island to Baba Ramdev.
Salwan “Sam” Poddar, a Scottish national, and his wife Sunita generously gifted an island to Baba Ramdev. Little Cambrai Island, which measures approximately 900 acres, was acquired for £2 million and gifted to Mr Ramdev in 2009. On this uninhabited island where the remains of a former castle remain, a complex called “Retreat” offering yoga and Ayurveda is currently being built.
The Poddar family owns 1,246,000 shares in Patanjali Ayurveda.
According to documents filed by Patanjali Ayurveda with the Registrar of Companies, the Poddar family holds 1.246 million shares in the company. The total amount of shares allocated by the company is $3.47 billion, with the Poddar duo holding a 7.2% stake in the business, which manufactures most of the Ramdev empire’s products. After Acharya Balkrishna, the Poddar family ranks as the second largest shareholder of Patanjali Ayurveda.
The couple had previously told the media that Sunita was insisting on buying the island, saying she had lost a lot of weight after practicing yoga with Ramdev.
Sunita Poddar takes yoga classes in Glasgow and trains yoga teachers
Sunita is originally from Mumbai but grew up in Kathmandu and is now ranked as one of Glasgow’s richest women. She runs yoga classes and trains yoga instructors and met Baba Ramdev during her visit to Glasgow. In contrast, Sam Poddar was originally from Bihar and moved to Glasgow at a young age. After Sunita’s marriage, she joined him when she was 18 years old.
