Baba Ramdev aide Balkrishan owns 99.9% of Aastha channel

Congress talks tough at core group meet on Ramdev

Baba Ramdev's world is not just a popular yoga empire but a clutch of hugely profitable businesses, ranging from successful ayurveda products to a popular TV channel. Vedic Broadcasting Limited which runs Aastha channel, made a net profit of Rs 2.30 crore on a total turnover of Rs 19.26 crore in 2009-10. The company mopped up Rs 18.50 crore revenue in advertisements, telecasting fees and others. The company's expenditure on programming, telecast and operations was Rs 9.60 crore. According to details available with the Registrar of Companies, Acharya Balkrishna, Ramdev's controversial aide, holds 99.9% stake in Vedic Broadcasting. He holds 799,250 shares out of total equity shares of 800,000. Ramdev does not figure as a shareholder in any of the companies while Balkrishna is the overwhelming majority share holder. In Patanjali Ayurved Limited, which makes and markets Ramdev's ayurveda products, Balkrishna has 3.10 crore shares out of a total of 3.47 crore shares, which is over 92% shares in the company. A significant part of the remaining shares are held by Sarwan 'Sam' Poddar and his wife Sunita, the Scotland residents who had gifted an island to Ramdev.

Patanjali Ayurved too is an impressive business. The annual report of the company for 2008-09 financial year shows that just two products, Amla and Aloe Vera juice, raked in over Rs 25 crore in the year. The other product that was a great success was Lauki (bottle gourd) juice.

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Congress talks tough at core group meet on Ramdev

Worried over Baba Ramdev's plan to start an indefinite fast against corruption from Saturday, Congress leaders met again on Thursday. The Government in Thursday's core meeting decided that no senior minister will meet Ramdev on Friday. Subodh Kant Sahai, Kapil Sibal and Pawan Kumar Bansal may go to meet him on Friday.

A draft will be prepared by the ministries of Agriculture, HRD and Finance on key issues raised by Ramdev like currency and Minimum Support Price. The group of ministers will meet him on Friday at 11 am. However, Finance Minister Pranab Mukherjee will not meet him.

Sources said, in core committee meeting, the Congress has conveyed to the Government that the party overdid it by sending ministers to airport to receive Ramdev. After the meeting was over, two of the ministers who received Baba Ramdev at the airport tried to clear the air, saying talks are not a sign of weakness.

"In a democracy the Government needs to talk to everyone. It's not right to say that the Govt is weak," said Pawan Kumar Bansal.

"If Ramdev and the Government both are serious, it won't be difficult to find the solution," said Subodh Kant Sahay.

Sources said Baba Ramdev held discussion with a desperate Government and will announce the results of the talks on Friday. According to the sources, on Thursday, he spoke to Congress leader and Union Minister Subodh Kant Sahay on the phone and has been requested not to speak until after a meeting with ministers is over.

Accordingly, Ramdev's scheduled interaction with the media has been postponed. The development comes even as the Congress Core Committee is meeting to devise a strategy to counter the Ramdev challenge.

According to the sources, the Congress talked tough at the core group meet and said that the Government will continue its talks with Ramdev but on its own terms and conditions. The Government has rejected Baba Ramdev's demand of pulling Rs 500 and Rs 1000 notes out of the market.

"As a responsible and sensitive Government, we are engaging everyone constructively to find practical and real solutions in national interest. This should not be mistaken as sign of weakness or fear," said Congress spokesperson Abhishek Manu Singhvi. Earlier, Ramdev had reiterated his decision to launch his crusade against black money and said that that he would launch his hunger strike at Delhi’s Ramlila Maidan on June 4. "I have the support of the people. The campaign is against corruption, to bring a change in the system. All discussions are in the interest of the nation. Talks with the government on all issues have been positive. I can proceed with talks with government when on fast as well," Ramdev said.

Baba Ramdev demanded that a task force should be formed to tackle the black money issue and also demanded -

1. Task force should first quantify black money
2. Should ensure passing a resolution against black money at UN.
He has further demanded -
a) Minimum Support Price (MSP) of grains be increased substantially.
b) Wages of different categories of labourers be made uniform across the country
c) Pro-farmer Land Acquisition Bill be brought quickly
d) Hindi like Japanese and Chinese be promoted countrywide.

The Government sources said they are in agreement with Ramdev on Black money but the modus operandi has to be worked out and this is something that can't be worked out in 24 hours. Now, the cornered government has decided to send more emissaries to persuade Ramdev not to undertake his fast.

A meeting of the Cabinet Committee on Political Affairs was held a few days back to discuss Ramdev's fast and Singh had also written a letter to the yoga guru asking him not to go ahead with the fast, promising him to find a "practical and pragmatic" solution to tackle the issue of corruption.

Congress has distanced itself from the government's unprecedented step of sending four senior ministers to receive Ramdev at the airport here in a bid to persuade him not to go ahead with the protest saying it was "unnecessary" and the party has "nothing to do" with it। "The party is not at all related to this entire exercise from here to the airport (ministers going to the airport to receive the Yoga Guru)," top sources in Congress have said.

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