But, he said, he would wholeheartedly support the "developmement and restoration" of the venue where the event is being held.
Addressing the event on the second day, Ravi Shankar said the amount the National Green Tribunal had asked the AOL to pay was for restoration and not as a penalty.
"All through, I have lived a spotless life. I have never been late to school. I have never paid fine, even of a single paisa. So, we said we will not pay any fine. But then I was told that this is not a fine or penalty. It was wrongly reported in newspapers.
The NGT had on Wednesday allowed Art of Living Foundation to hold the festival but asked it to pay Rs 5 crore as environmental compensation for ecological damage.
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However, yesterday the relief to the AOL Foundation came with a stinker from the green panel which took strong exception to Ravi Shankar's remarks about refusal to pay Rs 5 crore and instead saying he would prefer to go to jail.
A spokesman for AOL Foundation today said the organisation has already deposited Rs 25 lakh.
The event got embroiled in a controversy after environmentalists alleged that its preparations have damaged the ecology of Yamuna floodplains and demanded that the event be cancelled.