Yoga Guru Baba Ramdev's Patanjali Ayurveda ltd has ended its association with Jharkhand Mega Food Park ltd (JMFPl). The decision is said to have taken as 'corrective measure' in the way of setting up the ambitious Rs 113-crore project at Gaitalsud, near capital Ranchi.
Sources privy to the development informed The Pioneer that the decision was taken considering the inordinate delay and additional weight the project had accumulated over the years due to various reasons. "It is correct that the Patanjali Ayurveda limited, one of the partners and promoters into the mega food project, has withdrawn its holdings from it. Thus, Baba Ramdev is not longer a party into all this," said an Industry department official.
The development has taken place quite some time ago but kept under wraps for the reasons unknown. It is learnt that a diversified business group from Mumbai Empower India has bought the stake belonging to Patanjali Ayurveda limited in JMFPl. The company is working in the field of food and agriculture segment.
It is worth mentioning here that the mega food park project was initiated way back in 2009 along with nine others in other parts of the country. The then Union Food Processing Minister Subodh Kant Sahay along with the then Governor Syed Sibtey Razi and Baba Ramdev had laid the foundation stone for the agglomeration.
Interestingly, it was Patanjali Ayurveda ltd that had held majority share - anywhere between 40 per cent and 25 per cent — into the venture JMFPl. The company has others like GenX Venture Capital (15 per cent), lunar General Trading (10 per cent) and some more small companies. Jharkhand Government also later held five per cent 'sweat equity' through Ranchi Industrial Area Development Authority (RIADA).
However, information suggests that the 'corrective decision' has links of some kind or the other with the Enforcement Directorate's (ED) investigation into Ramdev's business. The ED had issued show cause notices couple of years ago to the Yoga Guru and his aide Balkrishna, his trusts Patanjali Ayurved ltd and Divya Yog Mandir and also the Jharkhand Mega Foods for alleged foreign exchange violations. The ED was particular about the FDI arrived to the food park project through its other investors said to be based in Dubai.
"Due to the probe other associates related to the project were collecting bad names. The decision (to move Patanjali Ayurveda limited out) was taken collectively. Now there is no such issue involved and everything has been cleared," said a senior official related to the project. Nevertheless, the proposed food park, languishing since its inception in the want of clearances and technicalities coming in the way, has gathered some momentum, especially after the new regime came at the Centre. JMFPl has in the meantime ensured almost all clearances necessary to kick start the project which aims to house 32 food processing units.
"We have had major hurdles in the form of sanctions from the Drinking Water and Sanitation department and the Ground Water Directorate. I am pleased to inform you that clearance from DWS has come while the other is also in the pipeline. Also we have 'consent-to-establish' from the State pollution board but 'consent-to-operate' is pending. We are expecting to open the food park by February 2015, provided any new hurdle does not come in the way," said Ali Reza Thaver, JMFPl Executive Director who is camping in Ranchi.
Ali, who had a meeting in this regard with officials of Ministry of Food Processing Industries on June 13, also added that more number of smaller entrepreneurs from Jharkhand had come forward since the project had acquired clearances and the contentious sub-lease issue being sorted out.