Osho Foundation Pune, Up For Sale!!!
newsaurchai.com Rushika Dave March 14, 2021
Osho International Foundation is a charitable trust, applied this year in January, before the Charity Commissioner’s office in Mumbai, seeking consent to sell two plots.
What is Osho Ashram?
Chandra Mohan Jain Osho established the Osho International Foundation (OIF). The Osho Ashram, now Osho International Meditation Resort, is located in the Koregaon Park area of Pune. It is a meditation centre that focuses on different meditation techniques like Osho Kundalini meditation, Osho Nataraj, and Osho Nadabrahma.
Reason For Sale
Citing the “financial crisis” caused by the Coronavirus Pandemic, the Osho International Foundation plans to sell two plots in the resort for Rs.107 crore.
The meditation activities that attracted its wealthy clients from around the world were discontinued last March. The OIF has planned to sell the two plots, each about 1.5 acres, to Rajiv Bajaj, the Managing Director and CEO of Bajaj Auto.
The application submitted by the OIF seeks permission for sale. “Looking at the present situation in India and around the world, and uncertainty about the continuation of Covid-19 effect, it would not be possible to restart the meditation activities shortly. This has severely affected the trust’s cash flow, leading to a dire need for the fund to meet its financial obligations. The cash flow situation caused on account of the COVID-19 pandemic has resulted in a situation whereby the trust will not have any income for a long period. Still, there will be fixed costs for maintaining the premises and properties of the trust,” it said.
The application mentioned that initially, it had received three bids for the sale from – Rajiv Bajaj for Rs.107 crore; Atul Ishwardas Chordia, the Chairman of Panchshil Realty for Rs.90 crore and A2Z Online Services Pvt Ltd for Rs.85.5 crore.