Opinion: Truth behind 'Young Indian'
How National Herald newspaper funds Sonia and Rahul Gandhi's Young Indian.
There was a newspaper setup during the freedom struggle called “National Herald”. It also had an Urdu edition called Quami Awaz and a Hindi edition called Navjeevan. When it was setup, tending to the requests, Jawaharlal Nehru accepted being the chairman of the organisation for which people gave donations, and the newspaper began being published. After independence Nehru became the prime minister of India, exercising power and influence that comes with the position, he helped National Herald get loans sanctioned at cheap rates and got them public property to build spaces.
The newspaper initially reflected growth but soon started losing business due to competition from the other newspapers. Not being able to revive itself, by 2008 National Herald accumulated a debt of 90 crores. At that time the newspaper unable to survive the financial crunch decided to close down.
Soon after National Herald was closed down, Sonia Gandhi and Rahul Gandhi put together 5 lakh rupees to create a new company called “Young Indian Ltd (YI)”, and Mrs. Gandhi became its leading director. Both she and Rahul Gandhi had 38% shares each in it. And the remaining 24 % shares were with two directors (Oscar Fernandes 12%, and Moti Lal Vohra 12%).
After the company was formed, the next step was to approach the National Herald to arrange for the loan and pay for the debts, and this effort eventually made the newspaper free from any loan or liability. It so happened that the Young Indian company passed a resolution and asked Moti Lal Vohra to talk with the chairman of the National Herald who ironically was…. Motilal Vohra-The National Herald was then asked not to pay back the 90 crore loan money, but as a consideration to transfer all the shares to YI company (which meant that property worth 5000 crore of the National Herald would go to Young Indian company- a company worth only RS5 lakh .) Finally the deal was agreed upon and then Sonia Gandhi told Motilal “Please ask treasurer of congress party to hold a meeting and give 90 crore from the congress party bank account to National Herald.”
After clearing debts National Herald transferred all the shares to Young Indian Ltd (YI)-A company that was incorporated in 2010 took over the “debt” of Associated Journals Ltd (AJL), the publisher of National Herald.
The next day Mrs. Gandhi called an emergency meeting and said that, ‘National herald has done a lot of
service for our country during freedom struggle, and since they are not in the position of paying back this loan, let us declare this 90 crore loan as a sick loan and non performing asset, and write it off.’
So without paying any Paisa (money) Young Indian got a Rs 5000 crore property, one big 11 storey building in Delhi which Rahul Gandhi visited, partly renovated and rented it out to external ministry for Passport Seva Kendra, multinational companies etc., and started getting rent (Rs 60 lakh)per month.
So I (Dr Subramanian Swamy) have taken the matter to the top Magistrate court. In-lieu of this, I will accuse Sonia and Rahul Gandhi of fraud, breach of trust and conspiracy. If I am able to successfully prove what Young Indian Company did, they all will go to jail for 27 years.
-Dr Subramanian Swamy (Write up from Dr Subramanian Swamy’s blog)