Patanjali’s land deal cheque bounces twice


New Delhi, April 14, 2017: Baba Ramdev-led Patanjali Ayurved Ltd has racked up controversy after the cheque it handed over to acquire 106 acres of land in Mihan SEZ bounced twice.

Patanjali acquired 230 acres of land in the non-SEZ area of Mihan for setting up a food park complex. During the groundbreaking ceremony of the food park in August, it announced to take another land within the SEZ for an export unit.

A cheque of Rs10 crore was handed over as token payment by Baba Ramdev and his lieutenant Acharya Balkishan, the company’s managing director. However, a cheque of Rs 64 crore issued towards payment of the entire cost has bounced twice.

Patanjali had issued a cheque of Punjab National Bank’s branch at Haridwar which was deposited in IDBI Bank by MADC. The earlier land deal is already under controversy with a PIL filed by Congress leader Sanjay Nirupam.

A Patanjali official, handling Acharya Balkishan’s affairs, said the cheque had not been dishonoured due to any serious reason. “It was just that the signature was not updated by the time it was presented. The matter will be solved.”

However, the drawee bank stated that the cheque was dishonoured (on both attempts) because the account has been blocked due to ‘situation 21-25’.

Wefornews Bureau

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