India Yoga Guru's Firm Faces Scrutiny Over Financial Deals
India's government has asked Patanjali Ayurved Ltd., a traditional medicine company co-founded by celebrity yoga guru Baba Ramdev, to explain some transactions deemed suspicious, according to people familiar with the matter.
The Corporate Affairs Ministry sent a notice to the company after the federal economic intelligence wing found transactions it labeled as abnormal and dubious, the people said, asking not to be identified citing rules.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
12 minutes ago
- Bloomberg
Air France-KLM CEO Says Premium Demand Is Holding
Air France-KLM Chief Executive Officer Ben Smith says "premium demand" for the airline "is holding across all of our sectors." Smith speaks to Bloomberg's Guy Johnson from the sidelines of the International Air Transport Association (IATA) annual meeting in New Delhi, India. He also discusses the potential impact of tariffs and trade uncertainty on the airline, as well as merger and acquisition prospects. (Source: Bloomberg)
Forbes
12 minutes ago
- Forbes
Indian Billionaire Rahul Bhatia's IndiGo Steps Up Fleet Expansion Amid Travel Boom
IndiGo—India's biggest airline by revenue controlled by billionaire Rahul Bhatia—is stepping up fleet expansion plans to meet the booming travel demand in domestic and international destinations. To support expansion plans, the budget carrier has exercised an option to buy an additional 30 A350 planes from Airbus, boosting its fleet of widebody aircraft to be deployed in international routes, Bloomberg reported over the weekend. That's on top of the 30 A350 planes it ordered last year and the six Boeing 787-9 Dreamliners set for delivery next year. The company aims to expand its fleet by 50% to more than 600 aircraft by 2030, IndiGo said a statement released late last week. 'We are focused on our holistic growth to be able to offer affordable, convenient, on-time travel experience to our customers on a growing domestic and international route network,' Pieter Elbers, CEO of IndiGo said in the statement. IndiGo plans to start services on 10 new international routes this year, expanding its network to over 50 destinations. It will start direct flights to Manchester and Amsterdam from Mumbai, next month. IndiGo also plans to add flights to Athens as well as Southeast Asian destinations such as Siem Reap, Bali, Ho Chi Minh City, and Hanoi, along with central Asian cities Almaty and Tashkent. To support its fleet expansion, IndiGo has signed an agreement with Bangalore International Airport to build a 12.5-hectare maintenance and repair facility. This will add to its existing facilities in Delhi and Bengaluru. 'A dedicated MRO facility will give a significant advantage in terms of aircraft availability, greater cost efficiencies and quicker turnaround benefitting the airline,' IndiGo said. With an estimated real-time net worth of $8.5 billion, Bhatia is among the wealthiest in India. He cofounded the airline with fellow billionaire Rakesh Gangwal in 2006. Following a public falling out with Bhatia, Gangwal resigned from the company's board in 2022, vowing to sell off his IndiGo shares. Last month, Gangwal reportedly sold 115.6 billion rupees ($1.4 billion) of his shares in IndiGo.
Entrepreneur
34 minutes ago
- Entrepreneur
Meenakshi Alternates Launches INR 700 Cr Realty Fund with Eye on Urban Growth
Over six years, the Meenakshi Real Assets Fund aims to invest in 6–8 self-liquidating real estate deals, offering cash flows and equity upside, with up to INR 70 crore per deal targeting top-tier developers and micro-markets. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. In a major leap into the financial services sector, Hyderabad-based Meenakshi Group has launched "Meenakshi Alternates" (M-Alts), its new investment platform, and announced its debut fund—the INR 700 crore Meenakshi Real Assets Fund. Focused on real estate, this SEBI-approved Category II AIF aims to tap into the high-growth potential of India's tier I cities. "Securing the AIF license marks a significant milestone for us," said Mahesh Katragadda, CEO of Meenakshi Alternates. "We are seeing strong early interest, and our team is evaluating prospective opportunities. Currently, we have three potential deals under due diligence." The fund adopts a hybrid strategy, blending both debt and equity investments, with a target corpus of INR 700 crore, including an INR 350 crore greenshoe option. Meenakshi Group has itself committed up to 20% of the fund size, underscoring its confidence in the venture. With a six-year horizon, the Meenakshi Real Assets Fund will focus on 6 to 8 high-conviction deals in self-liquidating real estate assets that offer steady cash flows and equity upside. Individual transactions could go up to INR 70 crore, targeting tier I developers and leaders in high-potential micro-markets. "We are leveraging our established track record in real estate to offer institutional-grade, well-structured financial products. Building long-term trust and delivering consistent returns is our goal," Mahesh added. Known for its expansive portfolio—13 million sq. ft. delivered, 371 MW in power, and 650+ lane kilometers of highways—Meenakshi Group is now channeling its expertise into financial services, positioning M-Alts as a trusted partner for real estate investments across India's urban landscape.
