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National Herald case
The National Herald case is an ongoing case in a Delhi court filed by politician Subramanian Swamy against Indian National Congress leaders Sonia Gandhi and Rahul Gandhi, their companies and associated persons.
As per the complaint filed in the court of the Metropolitan Magistrate, Delhi, Associated Journals Limited (AJL) took an interest-free loan of ₹90.25 crore (US$9.4 million) from Indian National Congress. It is alleged that the loan was not repaid. A closely held company, Young Indian, was incorporated in November 2010 with a paid up capital of 5 Lac and it acquired almost all the shareholding of AJL and all its properties (alleged to be worth ₹5,000 crore (US$520 million)), which has been termed by Swamy as criminal misappropriation by Sonia Gandhi and Rahul Gandhi.
Associated Journals Limited (AJL) is an unlisted public company limited by shares, incorporated on 20 November 1937, with its registered office at Herald House, 5-A, Bahadur Shah Zafar Marg, New Delhi. It was initiated by Jawaharlal Nehru with the support of about 5,000 freedom fighters who became shareholders of AJL. The company's capital was ₹5 lakh (US$5,200) divided into 2,000 preferential shares worth ₹100 (US$1.00) each and 30,000 ordinary (equity) shares worth ₹10 (10¢ US) each. 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 Paliwal and Govind Ballabh Pant. AJL had 1,057 shareholders as of 29 September 2010 as per the annual return filed by the company with the Registrar of Companies. [citation needed]
Congress leader Motilal Vora was the chairman and managing director of AJL for long, beginning with 22 March 2002. The company had incurred losses before its holdings were transferred to Young India in 2011.
AJL published the National Herald newspaper in English, Qaumi Awaz in Urdu and Navjeevan in Hindi until 2008. AJL also owns real estate property in various cities including New Delhi, Lucknow, Bhopal, Mumbai, Indore, Patna and Panchkula. The value of the real estate owned by AJL is estimated to be at ₹50 billion (US$520 million). The properties of AJL include Herald House, a six-storey building in Delhi with around 10,000 sq metre office space.
On 21 January 2016 the AJL in its meeting in Lucknow decided to relaunch the three dailies, National Herald and its sister publications, Quami Awaz and Navjivan.
Young Indian is a "not-for-profit" private company limited by guarantee, incorporated on 23 November 2010 with a capital of ₹5 lakh (US$5,200)and with its registered office at 5A, Herald House, Bahadur Shah Zafar Marg, Delhi. On 13 December 2010, Rahul Gandhi was appointed director of Young Indian while Sonia Gandhi joined the board of directors on 22 January 2011. Of the company's shares, 76 percent are jointly held by Sonia Gandhi and Rahul Gandhi, and the new remaining 24 percent are held by Congress leaders Motilal Vora and Oscar Fernandes (12 percent each).
On 1 November 2012, 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 ₹16 billion (US$170 million) by acquiring a publicly limited company called Associated Journals Limited (AJL) through their owned private company, Young Indian. He also claimed that, through this fraud, they had got the publication rights of the National Herald and Qaumi Awaz newspapers, with real estate properties in Delhi and Uttar Pradesh. He alleged that the acquired properties were given by the government only for the purposes of publishing newspapers, but were used for running a passport office with rental income amounting to millions of rupees.
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National Herald case
The National Herald case is an ongoing case in a Delhi court filed by politician Subramanian Swamy against Indian National Congress leaders Sonia Gandhi and Rahul Gandhi, their companies and associated persons.
As per the complaint filed in the court of the Metropolitan Magistrate, Delhi, Associated Journals Limited (AJL) took an interest-free loan of ₹90.25 crore (US$9.4 million) from Indian National Congress. It is alleged that the loan was not repaid. A closely held company, Young Indian, was incorporated in November 2010 with a paid up capital of 5 Lac and it acquired almost all the shareholding of AJL and all its properties (alleged to be worth ₹5,000 crore (US$520 million)), which has been termed by Swamy as criminal misappropriation by Sonia Gandhi and Rahul Gandhi.
Associated Journals Limited (AJL) is an unlisted public company limited by shares, incorporated on 20 November 1937, with its registered office at Herald House, 5-A, Bahadur Shah Zafar Marg, New Delhi. It was initiated by Jawaharlal Nehru with the support of about 5,000 freedom fighters who became shareholders of AJL. The company's capital was ₹5 lakh (US$5,200) divided into 2,000 preferential shares worth ₹100 (US$1.00) each and 30,000 ordinary (equity) shares worth ₹10 (10¢ US) each. 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 Paliwal and Govind Ballabh Pant. AJL had 1,057 shareholders as of 29 September 2010 as per the annual return filed by the company with the Registrar of Companies. [citation needed]
Congress leader Motilal Vora was the chairman and managing director of AJL for long, beginning with 22 March 2002. The company had incurred losses before its holdings were transferred to Young India in 2011.
AJL published the National Herald newspaper in English, Qaumi Awaz in Urdu and Navjeevan in Hindi until 2008. AJL also owns real estate property in various cities including New Delhi, Lucknow, Bhopal, Mumbai, Indore, Patna and Panchkula. The value of the real estate owned by AJL is estimated to be at ₹50 billion (US$520 million). The properties of AJL include Herald House, a six-storey building in Delhi with around 10,000 sq metre office space.
On 21 January 2016 the AJL in its meeting in Lucknow decided to relaunch the three dailies, National Herald and its sister publications, Quami Awaz and Navjivan.
Young Indian is a "not-for-profit" private company limited by guarantee, incorporated on 23 November 2010 with a capital of ₹5 lakh (US$5,200)and with its registered office at 5A, Herald House, Bahadur Shah Zafar Marg, Delhi. On 13 December 2010, Rahul Gandhi was appointed director of Young Indian while Sonia Gandhi joined the board of directors on 22 January 2011. Of the company's shares, 76 percent are jointly held by Sonia Gandhi and Rahul Gandhi, and the new remaining 24 percent are held by Congress leaders Motilal Vora and Oscar Fernandes (12 percent each).
On 1 November 2012, 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 ₹16 billion (US$170 million) by acquiring a publicly limited company called Associated Journals Limited (AJL) through their owned private company, Young Indian. He also claimed that, through this fraud, they had got the publication rights of the National Herald and Qaumi Awaz newspapers, with real estate properties in Delhi and Uttar Pradesh. He alleged that the acquired properties were given by the government only for the purposes of publishing newspapers, but were used for running a passport office with rental income amounting to millions of rupees.