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Congress uses FAQs to narrate its side of Herald story

The Congress has dismissed as absolutely false' the claim that Young Indian Ltd. was a real-estate firm'.

New Delhi: The Congress has come out with a set of Frequently Asked Questions to present its side of the story regarding the National Herald case as the party claims the Gandhis have not benefited financially from Young Indian Ltd.

The party also dismissed as “absolutely false” the claim that Young Indian (YI) Ltd, the company formed in the wake of financial troubles concerning Associated Journals Ltd (AJL), was a “real-estate company”.

It also underlined that there is no restriction in law on political parties giving loans and the Election Commission had issued a clear order in this regard in November, 2012.

“BJP leader Subramanian Swamy had sought derecognition of the Congress on this ground but his complaint was dismissed by a full bench order of the Election Commission” at that time, the AICC said.

On whether Sonia Gandhi or Rahul Gandhi benefited financially from Young Indian, it said, “No. As directors or shareholders of Young Indian, a non-profit, Section 25 company, they are prohibited by law from drawing (and have not drawn) any financial benefits from the company.” It also denied that any assets were transferred from AJL to YI.

“All the assets and the income of AJL remain with the company. Not a single paisa has gone to YI, YI Directors or YI Shareholders,” it said in the FAQs on its website under the heading, ‘National Herald’.

It rejected as “false” the claim that YI was created to usurp the property owned by AJL.

“On the contrary, Young Indian, being a non-profit Section 25 company, as the major shareholder AJL, in fact, enhances the safeguards on the properties of the AJL,” it said.

( Source : Deccan Chronicle. )
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