Ramdev’s aide Balkrishna wins mega George Everest Tourism project despite stakeholding controversy

In a move stirring controversy, Acharya Balkrishna, co-founder of Patanjali Ayurved and a close aide of yoga guru Baba Ramdev, has emerged as the key beneficiary of a high-profile Uttarakhand tourism project.

The George Everest Estate near Mussoorie, a scenic 142-acre site earmarked for adventure tourism, was opened for bidding by the Uttarakhand Tourism Development Board (UTDB) in December 2022. The government offered the successful bidder extensive infrastructure, including a helipad, museums, wooden huts, a café, parking, pathways, and an observatory, for an annual concession fee of just ₹1 crore.

Records show that all three companies that bid for the contract — Prakriti Organics India Pvt Ltd, Bharuwa Agri Science Pvt Ltd, and Rajas Aerosports and Adventures Pvt Ltd — are effectively controlled by Balkrishna. He holds over 99% in the first two firms and acquired a majority 69.43% stake in Rajas months after it was awarded the tender in July 2023.

The development raises serious questions of compliance with tender rules, including a signed anti-collusion undertaking stipulating that bidders must not act “in concert or in collusion” or engage in anti-competitive practices. The UTDB guidelines also allow termination if a bidder is found engaging in fraudulent practices.

Officials defended the process. Amit Lohani, Deputy Director of the adventure tourism wing, was quoted as saying by Indian Express that the tender was open and “not unusual” for companies to have cross-shareholding. Col Ashvini Pundir, who served as Additional CEO (Adventure Sports) at UTDB during the tender, called the companies “independent entities” and said the award followed standard procedures.

The George Everest Estate project is part of the Himalayan Darshan programme, which promotes adventure sports such as paragliding, bungee jumping, rock climbing, rappelling, and gyrocopter flights. UTDB had earlier piloted the project with Rajas Aerosports in 2022 before issuing a 15-year tender.

The awarded bid by Rajas promised the ₹1 crore annual fee, while the other two bidders had offered lower amounts — ₹65 lakh and ₹51 lakh, respectively. In addition to the Everest project, the Uttarakhand Civil Aviation Development Authority recently awarded Rajas Aerosports a subsidized air shuttle service connecting Jolly Grant helipad to George Everest Estate.

Balkrishna’s extensive holdings in multiple firms linked to Rajas, including Prakriti Organics, Bharuwa Agri Science, Bharuwa Solutions, Fit India Organic, Patanjali Revolution, and Bharuwa Agro Solutions, have intensified scrutiny over whether the tender process genuinely fostered competition.

Rajas Aerosports has denied any collusion or operational influence from Balkrishna or Patanjali, stating that strategic, operational, and management decisions rest solely with its founders. “Investment by any individual or entity is a matter of record… and does not translate into management control,” a spokesperson said.

As Uttarakhand positions the George Everest Estate as a marquee adventure tourism hub, questions remain about transparency, fair competition, and whether the state government adequately enforced its own tender rules.