Noted Indian yoga guru Swami Ramdev has gone on defensive after it was claimed that the company affiliated to him was conducting business in Nepal without seeking approval from concerned authorities.

Issuing a statement on Monday, the high-profile guru said his company has not flouted any local law while conducting activities in Nepal. The statement, signed by Swami Ramdev, also says the proposed investment from Patanjali Ayurved Limited will flow into Nepal upon completing all due legal processes here.

It is claimed that Ramdev-affiliated Patanjali Ayurved Limited was set up in Nepal without seeking permission from the Investment Board Nepal or the Department of Industries as mandated by the Foreign Investment and Technology Transfer Act.

But Ramdev has said the company has not attracted Indian investment.

“Entire investment in Patanjali Ayurved in Nepal has come from Upendra Mahato and his wife Samata,” reads the statement. “When we invest in the company in future which we plan to do, we will follow the prevalent laws of Nepal and take approval from the concerned government authorities of Nepal.”

He has also said proceeds from that company will not be distributed. “Instead, the profit from the company will be spent on philanthropic activities,” the statement says.

I have devoted my entire life fighting corruption, black money and financial misappropriation, and I am committed to financial transparency. So, there is no possibility that I would be involved in any kind of illegal investment in Nepal,” Ramdev said in the statement.

He has also said that Patanjali Yogpeeth was established in Nepal as a not-for-profit company in October 2007 and that it has been registered at the Office of the Company Registrar.