Ramdev invested in Nepal without govt nod: Report

Yoga guru Ramdev has landed in a controversy in Nepal, after a media report claimed that Patanjali Ayurveda group invested more than Rs 150 crore in the country without official approval.

The Foreign Investment and Technology Transfer Act requires any foreign investor to get permission from the Investment Board Nepal or the Department of Industries before investing in Nepal.

Nepal’s newspaper Kantipur Daily said Ramdev failed to seek such mandatory permissions. Meanwhile, Ramdev has denied the allegations, saying his company has not flouted any local law while conducting activities in Nepal.