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Subramanian Swamy's victory against Sonia, Rahul Gandhi

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Subramanian Swamy
New Delhi, March 16: Janata Party chief Subramanian Swamy on Friday, March 16 won the National Herald case against Sonia Gandhi, Rahul Gandhi and many others associated with the Congress Party.

Metropolitan Magistrate Gomti Minocha of Patiala House Courts, New Delhi took cognisance of the complaint on Friday and directed the Janata Party supremo to testify in the case on Jul 9, 2013. The complaint was first heard by link magistrate Ambika Singh on Feb 14.

Swamy accused the Gandhis of running a fraud company and of misusing government facilities. He earlier had claimed that Sonia and Rahul jointly owned 76 per cent of a company called Young Indian. Demanding a probe by investigative agency Central Bureau of India, Swamy asserted that the Gandhis had converted a public firm into a private company and thus grabbing properties worth Rs 1,600 crore illegally.

Read Swamy's allegations against the Gandhis here:

Mrs Sonia Gandhi and Rahul Gandhi had floated a Section 25 private company called Young Indian and acquired the public limited company, the Associated Journals Ltd., which is the owner of National Herald and Quami Awaz Newspapers, and all high value real estate property in Delhi and other places in Uttar Pradesh of the said company. The deal is a sham, bogus and a violation of several laws. It is a fraud committed in order to grab the Herald House in Delhi that is located in a hub and which is valued at about Rs 1600 crore.

The first dubious fact of the AJ Company RoC details is that Jawahar Lal Nehru, Indira, Feroze Gandhi, GD Birla and other like noted deceased person are shown as current shareholders! In fact, 80 per cent of the original shareholders are no more alive. So too many of the defunct firms, including several companies having dubious addresses in Kolkata, are shown as shareholders of the Associated Journals Ltd.

The second dubious fact is the acquisition of the Associated Journals Ltd. Judging by documents filed with RoC it is wholly illegal. On Feb 26, 2011, the Board of AJ Pvt. Ltd. passed a Resolution approving that All India Congress Committee (AICC) had loans to the Company unsecured and for zero interest rate to extinguish the liability of the company of more than Rs 90 crore. It is illegal for a political party to give loans to any company. The Resolution also resolved that in lieu of this deal with AICC, the Board decided to allot all AJ's nine crore shares, of Rs 10 each to Young Indian, the private company of Sonia Gandhi and Rahul Gandhi, where both together more than three fourths of the total shares and fully control the said Young Indian Company.

The third dubious fact is that Young Indian filed statements with the RoC disclosing that the shareholders meeting was held in Sonia Gandhi's Government allotted 10, Janpath. This is violation of the law since the 10, Janpath, New Delhi Government accommodation cannot be used for commercial purposes and business.

The fourth dubious fact is that the Rs 90 crore liability of The Associated Journals was owned by Young Indian for a mere Rs 50 lakhs!

Thus, the deal was to grab the Rs 1600 crore worth Herald House and other properties of the National Herald/Quami Awaz in Delhi and in different part of UP for a commitment to pay Rs 50 lakh to AICC for the Rs 90 crore advance as unsecured zero interest loan.

Therefore, I urge immediate institution of a SFIO/CBI probe into this dubious stinking deal between Young Indian and The Associated Journals as also the illegality of the AICC in giving a loan to a private company in reckless cronyism since the AICC President is Ms Sonia Gandhi and General Secretary Rahul Gandhi who are also owners of Young Indian, the beneficiary. More curiously, the Associated Journals Ltd.'s Chairman Shri Motilal Vore is also the Treasurer of the AICC!

In his election affidavit on assets and liabilities, Mr Rahul Gandhi had failed to inform that he owned 38 per cent share of a company named Young Indian with his mother, Ms Sonia Gandhi, who also owned 38 per cent of the shares.

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