Published On:Friday, 10 August 2012
Posted by Diggy Chacha
Ramdev Baba told that India Against Corruption is merged with his Patanjali Yogpeeth
New merged entity will be revived soon and agitation is planned ahead of next Parliamentary Session
Ramdev Baba finally confirmed that his Patanjali Yogpeeth has acquired Anna led India Against Corruption for undisclosed valuations, after many of his supporters shouted that he was copying Anna Hazare's previous year's speech at the time of agitation.
"Yes, now as it’s become a serious question then I have to admit that, Patanjali Yogpeeth merged Team Anna's entity India Against Corruption (IAC) with itself and now onwards Patanjali Yogpeeth will promote the brand IAC in all its agitation," said Ramdev Baba.
He said that both the entities though have different agendas their ultimate blend would provide great business to the stakeholders.
"Consolidation in the area of agitation is required. While now Team Anna plans to change the model, we thought acquiring their entity and clearly expanding," said Baba Ramdev.
However, he denied about mentioning any purchase consideration and method of valuation.
He said "We are not bound by Sebi's regulations and the entity would not have any kind of obligation to disclose the valuation area."
While besides promoting Yoga, Ramdev Baba diversified its Patanjali Yogpeeth into areas of agitation towards black money. However, after realizing that black money is the issue that can't be resolved without reaching to roots of corruption, changing CBI directors and CVC etc, he thought of adding these new segments to the entire portfolio. While region wise anti corruption entities are not lucrative and Team Anna's IAC is just became an eye catcher for the nation, and also Anna wanted to explore new areas, he grabbed the opportunity.
According to sources, Ramdev Baba has just provided a bit of small glance towards his wholly owned subsidiary IAC and he is very serious on reviving the loss-making entity by another agitation just ahead of the next parliamentary session.