The Lion stands for power and it is vehicle on which Goddess Shakti rode when she slew Mahishasura, the embodiment of Tamas
The elephant head stands for Lord Ganesha, the God of wisdom and success.
The Lotuses on either side, One red and the other White, symbolizes the rise of human spirit from the muddy bottom of our lower nature to achieve renunciation and purity respectively.
The Pranava is the coping stone of the entire arch of human progress.
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