Published By: Prashant Swami
Today i am going to brief you guys about the "National Herald Caser".
The National Herald Case is an ongoing case in a Delhi court filed by Indian Economist and Politician Subramanian Swamy against Politicians Sonia Gandhi and Rahul Gandhi.
ABOUT CASE:
The Indian National Congress granted an interest free loan of 90.25crore to Associated Journals Limited (AJL), which didnt pay back.
ABOUT Assoicated Journal Limited:
It was brain child of Jawaharlal Nehru but it was never his personal property as it was started with support of about 5,000 freedom fighters who became share holders of AJL. Apart from Nehru, AJL's Memorandum of Association was signed by Stalwarts such as Purushottam Das Tandon, Acharya Narendra Dev, Kailash Nath katju, Rafi Ahmad Kidwai, Krishna Dutt Palowal and Govind Ballabh Pant. Assoicated Journal Limited (AJL) is an unlisted public company limited by shares,incorporated on 20th November 1937. AJL had 1057share holders of 29th sept 2010 as per the annual return filed by the company with Registrar of Companies.
CRIME:
On 1 November 2012, Subramanian Swamy filed a private complaint in a court in Delhi alleging that both Sonia Gandhi and Rahul Gandhi have committed fraud and land grabbing worth 16Billion by acquiring a public limited company called Associated Journal Limited (AJL) through their owned private company, Young India. He also claimed that, through this fraud they had got the publication rights of the National Herald and Quami Awaz newspaper, with real estate properties in Delhi and Uttar Pradesh.
His complaint in the court further alleges that,On 26th Feb 2011, AJL approved the transfer of an unsecured loan of 90crore from the All india congress committee at zero interest with company's all ninety million shares of 10each to young india . Swamy argued that it is illegal for a political party to lend money for commercial purpose as per section 29A to C of the Representation of the people Act ,1951 and section 13A of Income Tax Act,1961 and demanded investigation by the CBI and the De-recognition of the Indian National Congress party for using public money. On 2nd Novemeber 2012, the party responeded that the loan was given only for reviving the National Herald newspaper with no commerical interest.
The hearing of the criminal proceeding case was taken up by the magistrate on various dates while the defendants opposed the petition and asked the magistrate to dismiss it. The court finally observed that prima facie evidence against all the accused was found. The court issued summons to the defendants to appear in the court to defend themselves against all the allegations made in Swamy complaint.
On 26th June 2014, Magistrate Ms. Gomati Manocha issued summons to
1. Sonia Gandhi
2. Rahul Gandhi
3. Motilal Vora
4. Oscar Fernandes
5. Suman Dubey
6. Satyam Pitroda
On 12th Feb 2016, the supreme court granted exemption to all the six accused in the case from personal apperances while refusing to quash proceedings against them. Later on 12th july 2016 the Delhi Court set aside the trial court judgement allowing examination of Balance sheet and other documents of congress party and other two companies, the AJL and Young India. The next hearing in the court is scheduled on 20th August.
In my Next Article will brief you guys on Ayodha Temple dispute.
You can follow me in Instrgram @prashantkumar-7697
Today i am going to brief you guys about the "National Herald Caser".
The National Herald Case is an ongoing case in a Delhi court filed by Indian Economist and Politician Subramanian Swamy against Politicians Sonia Gandhi and Rahul Gandhi.
ABOUT CASE:
The Indian National Congress granted an interest free loan of 90.25crore to Associated Journals Limited (AJL), which didnt pay back.
ABOUT Assoicated Journal Limited:
It was brain child of Jawaharlal Nehru but it was never his personal property as it was started with support of about 5,000 freedom fighters who became share holders of AJL. Apart from Nehru, AJL's Memorandum of Association was signed by Stalwarts such as Purushottam Das Tandon, Acharya Narendra Dev, Kailash Nath katju, Rafi Ahmad Kidwai, Krishna Dutt Palowal and Govind Ballabh Pant. Assoicated Journal Limited (AJL) is an unlisted public company limited by shares,incorporated on 20th November 1937. AJL had 1057share holders of 29th sept 2010 as per the annual return filed by the company with Registrar of Companies.
CRIME:
On 1 November 2012, Subramanian Swamy filed a private complaint in a court in Delhi alleging that both Sonia Gandhi and Rahul Gandhi have committed fraud and land grabbing worth 16Billion by acquiring a public limited company called Associated Journal Limited (AJL) through their owned private company, Young India. He also claimed that, through this fraud they had got the publication rights of the National Herald and Quami Awaz newspaper, with real estate properties in Delhi and Uttar Pradesh.
His complaint in the court further alleges that,On 26th Feb 2011, AJL approved the transfer of an unsecured loan of 90crore from the All india congress committee at zero interest with company's all ninety million shares of 10each to young india . Swamy argued that it is illegal for a political party to lend money for commercial purpose as per section 29A to C of the Representation of the people Act ,1951 and section 13A of Income Tax Act,1961 and demanded investigation by the CBI and the De-recognition of the Indian National Congress party for using public money. On 2nd Novemeber 2012, the party responeded that the loan was given only for reviving the National Herald newspaper with no commerical interest.
The hearing of the criminal proceeding case was taken up by the magistrate on various dates while the defendants opposed the petition and asked the magistrate to dismiss it. The court finally observed that prima facie evidence against all the accused was found. The court issued summons to the defendants to appear in the court to defend themselves against all the allegations made in Swamy complaint.
 |
| Mrs. Sonia Gandhi and Mr. Rahul Gandhi |
1. Sonia Gandhi
2. Rahul Gandhi
3. Motilal Vora
4. Oscar Fernandes
5. Suman Dubey
6. Satyam Pitroda
In my Next Article will brief you guys on Ayodha Temple dispute.
You can follow me in Instrgram @prashantkumar-7697
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