Patanjali Ayurved is reportedly underneath scrutiny from the Company Affairs Ministry over a collection of economic transactions flagged as suspicious.
In accordance with a Bloomberg report, the ministry despatched a discover to the corporate after a federal financial intelligence wing recognized sure transactions as “irregular and doubtful,” citing unnamed officers conversant in the matter.
BT couldn’t independently confirm the claims made within the report and can replace this text if the corporate or ministry responds.
The quantities concerned haven’t been disclosed, because the probe stays in its early levels. Patanjali has about two months to answer the federal government’s discover, Bloomberg added quoting sources aware about the matter.
Officers are additionally inspecting potential violations of company governance requirements and whether or not there was any diversion of funds, the report added.
This isn’t the primary time the corporate or its associates have drawn regulatory warmth. Final 12 months, a Patanjali unit confronted authorities notices over alleged unpaid taxes and improper refund claims.
In the meantime, the Supreme Court docket had barred the corporate from promoting its merchandise as cures for sure medical circumstances.
