National Herald Case: Money Triangle By Congress

“National Herald Case” is a case that everyone wants to understand about who has a political interest even a little bit. Many of us think that this is happening because of BJP. May be current ruling govt. has any personal sentiments over this case. But in reality, congress created a money triangle. That triangle consists of multiple ways of illegal money transfer.

In this article, we will understand the full National Herald case. And will also mention congress’s stand on all this.

Congress

What is National Herald?

In Nov. 1937, Jawaharlal Nehru and about 5000 freedom fighters registered a public limited company, under the India companies act,1913. The Name of the company was Associated Journal Ltd(AJL). The purpose was to raise and spread the voice of freedom fighters all over India. After one year with the help of AJL, Nehru Ji started a newspaper in three languages. In Hindi name of the newspaper was Navjeevan, in Hindi the name was Qaumi Awaz. And in English, it was NATIONAL HERALD.
The company had shares of 5000 freedom fighters some of them were Acharya Narendra Dev, Kailash Nath Katju, Rafi Ahmad Kidwai, and Purushottam Das Taban. That means that AJL is not an individual company.
National Herald(NH) become the most popular newspaper at that time. Because of the popularity gained by the NH British government banned it in 1942. However, the newspaper again opened in 1945. Then after independence, NH mostly includes congress’s thoughts and their way of performing. And NH became a loss-making newspaper.
The time went on and AJL’s National Herald newspaper didn’t come in profit. Then in 2008, due to heavy losses, AJL shut NH.
Then after shutting NH AJL started a real estate business. It already had assets as land estimated to be of Rs. 5000 crores(DLC price- 2000 crores). It had land in New Delhi. Lucknow, Bhopal, Mumbai, Indore, Patna, and Panchkula.

Money Triangle By Congress

Congress said that AJL was India’s heritage. And to revive it they gave a loan of 90 crores to AJL. But due to losses, it was unable to pay back. Now here comes one more entity called Young India. A non-profitable trust that was started by Rahul Gandhi and Sonia Gandhi. 76% of the shares are of Rahul Gandhi and Sonia Gandhi.
In 2010 congress gave the ownership of the loan to Young India for 50 Lakh. And then even after, AJL was unable to pay its loan. So it gave 99.99% shares to Young India, whose DLC price was 2000 crores.
These figures are not even comparable,2000 crores, 90 crores, and 50 Lakh. Then in 2012, Subramanian Swamy filed a case against Congress on the bases of this mesh.

Young India

It was incorporated by Sonia Gandhi, Oscar Fernandes, and some more family members. Then a loan was provided to Young India of one Crore by a Kolkata-based shell company, So the YI can enter into a transaction. So that it can take over AJL and all of its assets. It’s really strange how a 5 lakh capital company is taking over AJL worth 2000 crores.

Money Triangle

Allegations

Legally congress is a political party so it can’t use party funds to provide loans. And after it is provided it includes illegal transactions. Also, congrees tried to acquire 2000 crore of AJL which was a public company not an individual’s company. The amount was a property asset that was spread all over India. So, it also includes Financial Fraud and land grabbing.
Also, It is illegal for a political party to lend money for commercial processes. Under Section 29A to C of the Representation of the people Act, 1951 and section 13A of Income Tax.

Currently ED and IT department is questioning both Rahul Gandhi and Sonia Gandhi.

About the Author

Aakash Tiwari

Let's build our mind with the articulation of politics , philosophy and literature. I'm a political topic and books reader with a youth opinion.

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