The Patanjali Story: How An NRI Pair's Rs 50 Crore Loan Shaped Baba Ramdev's Ayurvedic Empire
Baba Ramdev¡¯s Patanjali is going through rough waters. For the unversed, the Indian Medical Association filed a lawsuit against Patanjali Ayurved for disseminating advertisements asserting treatments for illnesses and engaging in a negative campaign against modern medicine.
The ad claimed that Patanjali drugs had cured people of diabetes, high blood pressure, thyroid, liver cirrhosis, arthritis and asthma.
While this case is far from reaching a conclusion, here¡¯s Patanjali¡¯s story.
Baba Ramdev And Acharya Balkrishna Established Patanjali In 2006 After Receiving A Handsome Loan From The Former¡¯s Followers
Baba Ramdev, along with his aid Acharya Balkrishna, ventured into business in 2006, borrowing a personal debt ranging between Rs 50-60 crore. Despite lacking banking experience and even a bank account at the time, he managed to secure such a substantial loan.?
Notably, the NRI couple Sunita and Sarwan Poddar, devout followers of Baba Ramdev, were the benefactors behind this financial support. They also hold 3 percent ownership stake in the company, as per several reports.
The Patanjali Ayurved business which was established on borrowed money now boasts of an annual revenue of around Rs 55,000 crore. Balakrishna owns 94 percent stake in the company while Baba Ramdev is the face of the brand and he also takes strategic decisions.
The Scottish NRI Couple Also Gifted Baba Ramdev An Island
Sarwan "Sam" Poddar and his wife Sunita, Scottish citizens, generously gifted an island to Baba Ramdev. Little Cumbrae, spanning around 900 acres, was acquired for two million pounds and presented to Ramdev in 2009. This uninhabited island, featuring the remnants of a former castle, now hosts a retreat complex catering to yoga and ayurveda.?
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The Poddars Own 12.46 Lakh Shares In Patanjali Ayurved Ltd
As per documents filed by Patanjali Ayurved Ltd with the Registrar of Companies, the Poddars possess 12.46 lakh shares in the company. With the total shares allotted by the firm standing at 3.47 crore, the Poddar duo holds a 7.2% stake in the business, which manufactures the majority of the Ramdev empire's goods. Following Acharya Balkrishna, the Poddars rank as the second-largest shareholders of Patanjali Ayurved.?
The couple previously shared with the media that Sunita advocated for the purchase of the island, citing her significant weight reduction after embracing Ramdev's yoga practice.
Sunita Poddar Takes Yoga Classes And Trains Yoga Teachers In Glasgow
Sunita, originally from Mumbai and raised in Kathmandu, now ranks among Glasgow's wealthiest women. She conducts yoga classes and trains yoga instructors, having met Baba Ramdev during his visit to Glasgow. In contrast, Sam Poddar, hailing from Bihar, relocated to Glasgow in his youth. Sunita joined him after their marriage when she was 18 years old.
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