In 1938, Jawaharlal Nehru established the National Herald. Before independence, Nehruji wrote for this paper and some other freedom fighters also expressed their thoughts on it. Through this newspaper, they spread their thoughts against Britishers. To run a new paper Nehruji and around 5000 freedom fighters collected money and build Associated Journals Limited (AJL). Hence 5000 freedom fighters were the owners of it. It had no single owner. According to Business Standard's report, there were 1,057 shareholders in 2010. The AJL company handled all work of the newspaper National Herald and newspapers published in three languages. The National Herald in English, Navjeevan in Hindi and Qaumi Awaz in Urdu. National Herald was very popular at that time so Britishers banned it in 1942, and after 1945 it again started publishing. After India's independence policies of Congress, their thoughts were published on it. Nehruji used to write a lot in it and was very much attached to it. Nehruji said, "I will not let National Herald close down even if I have to sell Anand Bhawan.”
National Herald lost a lot because of competition with other new newspapers and lack of revenue. National Herald had shut down in 2008. During this time AJL acquired properties as freehold or leasehold from the state or Central government to publish the newspaper. After 2008, AJL started its construction business. AJL started to earn money by renting its property to malls or shopping complexes. This property is the main reason behind this controversy. AJL's properties are in Mumbai, New Delhi, Lucknow, Bhopal, Indore, Patna and Panchkula. The total value of its properties is around 2000 crores, it is DLC ( the rate decided by the government) rate, and the actual rate of this property is around 5,000 crores.
Shareholders of AJL are a total of 1054, 33% shares were owned by Gandhi, 21% owned by Lalit Suri, and 5% shares were owned by Amitabh Bachchan because the company address was Mr Bachchan’s house ( Pratiksha, plot no.14, 10th Road Juhu)
Ownership of AJL company was Congress Party because all major authorities control by them and their shares are also more. Also, Congress had given non-secured loans to AJL to prevent bankruptcy and the total loan is up to 90 cores in 2010. In other conditions, companies should liquidate their assets and pay back their loan but they didn't do it.
Young India Limited (YIL) was registered in November 2010 ( under section 25 of the Companies Act - for promotion, art science, religion charity or another useful object). Rahul Gandhi is the director. The 76 % shares of YIL are owned by Rahul Gandhi and Sonia Gandhi. The 24% shares are owned by Motilal Vohra and Oscar Fernandes.YIL is a non-profit company. This Young India Limited gives 50 lakh to Congress and in return, Congress gives AJL's ownership to YIL. Now AJL has to pay 90 crores to Young India (which earlier it had to give to Congress). But rather than returning 90 crores, AJL gave all shares to Young India. Now it is the case that company Young India started with only 5 lakh and it gave 50 lakh to Congress, after that it became the owner of 2000 crores' assets of AJL company.
Subramanian Swamy said that the director of Young India and members who hold important positions in AJL company and important positions in Congress party are the same set of people. In this way, all decisions are taken for the company only for illegally diverting money and property in their name.
The second thing Subramanian Swamy said is that Gandhi took over AJL by using the Congress party's funds. He also said, "The loan for AJL could have been paid by selling small property, then why did they transfer all their shares to YIL?”
Thirdly Swamy said, "according to the Indian Income Tax act 1961, It is illegal for political parties to lend property for commercial purposes". He also said many freedom fighters invested their money in the AJL and were also shareholders. But when AJL transferred shares to YIL without informing all shareholders. Like Shanti Bhushan (former law minister) and high Court chief, Justice Markandey Katju was not served any notice when the AJL transferred shares to the YIL (in 2010).
Fourth, Subramanian Swamy said YAL did not have 50 lakh for AJL's acquisition. YIL decided to take a loan of one crore from M/S Dotex Merchandise Private Limited Kolkata. the loan was taken the wrong way, said the Income Tax department. The Dotex company was reported suspicious by the financial intelligence units. At the address of Dotex Merchandise is a guest house, where the only caretaker is living, there is not any company office.
According to the Dotex company they gave donations to YIL, but YIL records showed this 1 crore as a loan.
Subramanian Swamy was accusing Rahul and Sonia Gandhi of cheating and criminal charges against them. The ED (Enforcement Departments) is looking into this case for money laundering. The income declared by Sonia Gandhi and Rahul Gandhi in 2011-2012 did not match the record (time of takeover of AJL). The Income Tax department said a huge loan was given to AJL and its record was not shown with the income tax records of Congress and AJL. AJL's annual report in 2010 did not show any loan in it.
Congress said about all these cases AJL and YIL belong to the Congress so not required to interfere with any outsider. AJL freedom fighter's company and Nehruji did not want to stop it so they called experts from inside India to save the AJL, also said YIL is a non-profit company which can spend money on its objectives. Although the majority of shares are owned by Rahul and Sonia Gandhi, it may not make any profit from it.
In December 2015, Rahul and Sonia Gandhi were granted bail in the case by the trial court. In 2016, Supreme Court granted an exemption to the accused in the case (Gandhis, Oscar Fernandes, Motilal Vohra and Suman Dubey) from personal preference while refusing to cancel the case against them.
Written by: Jyoti Malik
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