#Thread

What is NATIONAL HERALD case?

Nehru started a newspaper called National Herald in 1938 which was published by a company called Associated Journals Limited. (AJL)
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Congress party gave a loan (bogus loan according to ED) of 90 crores on 0% interest to AJL, in which Mallikarjun Kharge was an office bearer.

But the newspaper shut down in 2008 after AJL failed to pay back ₹90 crore lent from the Congress party.
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Under The Public Representation Act 1950, no political party can lend money to anyone. Then how did Congress party lent 90 crore to AJL.

The question remains unanswered.
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In 2008, AJL had properties worth 2000 crores in prime location of Delhi, Patna, Panchkula. Lakhnau and Mumbai, through which it was earning in lakhs per month as rent. If anyone of these property was sold, AJL could have easily paid 90 crores to Congress.
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But, they preferred to default.. Wow...!

In 2010, Congress party appointed an assessee called Young Indian Limited to recover the loan from AJL.
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WHAT IS YOUNG INDIAN LTD.?

In 2010, Young Indian Limited (YIL) was set up in which Rahul Gandhi and Sonia Gandhi together held 38% each (total 76%) and remaining 24% were held equally by Congress leaders Motilal Vora and Oscar Fernandes. Motilal was also treasurer of YIL.
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Since AJL was not in the position to pay Rs 90 crore interest free loan back despite having properties worth 2000 crores, so they transferred all their shareholding without consent of shareholders, to YIL, which was owned by the Gandhis. For this YIL paid only Rs.50 lakh.
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In short, YIL gulped a company of 2000 crore in 50 lakh. Isn't it amazing?

Through AJL and YIL, Sonia and Rahul earned 414 crores in a year.
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In 2012, Subramaniam Swamy filed a case against the Gandhi's alleging fraud by acquiring publicly held company through their own company YIL. As under the Income Tax Act no political organisation can have financial transactions with a third party.
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In 2014, Magistrate summons all accused stating that the evidence is against them. In August 2014, ED launched the probe to find out if there was any money laundering.
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September 2015, ED reopens the investigation. December 2015, Patiala House Court grants bail to Sonia and Rahul Gandhi.

Since then Ma-Beta are out on BAIL....
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In February 2016, Gandhis appealed in Supreme court to cancel the National Herald case against them but SC refused to quash proceedings against Gandhis and gave them a big Jhatka.
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Some AJL shareholders, including former law minister Shanti Bhushan and former Allahabad High Court Chief Justice Markanday Katju, said, according to reports, that their shares in AJL were transferred to YIL without their knowledge.
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The ED had also initiated a money laundering probe against AJL in connection with a plot allotted to it in Haryana’s Panchkula by then chief minister and Congress leader Bhupinder Singh Hooda.
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in 2019, The I-T dept had claimed that the shares owned by Rahul Gandhi in YIL would lead him to have an income of Rs 154 crore, not about Rs 68 lakh, as was assessed earlier. The dept has already issued a demand notice for Rs 249.15 crore to YIL for 2011-12.
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In 2020, the ED attached National Herald properties worth Rs 16.38 crore in Mumbai.
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Questions

1. Why did Congress violate income tax act and public representation act and gave a loan of 90 crore to AJL?

2. Why did AJL not pay 90 crore to Congress despite having enough money?

3. Why did AJL agree to be acquired in just 50 lakhs?
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4. Why did AJL not inform shareholders before acquisition deal was signed?

5. Why did Gandhis evade tax on money earned from YIL and AJL?

and many more...

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