Subramanian Swamy files complaint against Sonia and Rahul Gandhi in AJL case

New Delhi: Senior BJP leader Subramanian Swamy had filed an application in the court stating that The Associated Journals Limited was the publisher of the National Herald newspaper, which was founded under the chairmanship of late Prime Minister Jawaharlal Nehru. The AJL terminated the printing of newspaper in 2008. At that time AJL was under the huge unpaid debt of Rs 90 crore.

According to Mr Swamy’s complaint, the Rs 90-crore loan that was provided to AJL was an unsecured, zero-interest loan. He alleged that in November 2010, Young Indian company was formed by Congress president Sonia Gandhi and Rahul Gandhi. They controlled 76 per cent shares of the company.

Mr Swamy alleged that in December 2010 Mrs Gandhi and Mr Rahul Gandhi conspired and got assigned to themselves the debt of Rs 90.25 crore owed to the Congress Party by AJL.

“An assignment of debt was made for a paltry consideration of Rs 50 lakh by false representation that AJL had no net worth and was unable to re-pay the debt to the Congress Party, when in fact AJL had huge real estate worth thousand of crores. Thus by just paying Rs 50 lakh, YI company obtained the right to recover Rs 90.25 crore from AJL. Thus the six persons have cheated, committed criminal breach of trust and criminally misappropriated the funds of the Congress,” Mr Swamy had alleged.

He alleged that Mr Vora, along with other persons, passed resolutions to convert the loan of RS 90.25 crore into almost all its equity shares, thereby vesting in YI control and indirect ownership of around 99 per cent of AJL and also its real estate.

The court, in its order, said, “From the complaint and the evidence led so far, it appears that YI was in fact created as a sham or a cloak to convert public money to personal use or as a special purpose vehicle for acquiring control over Rs 2,000 crore worth of assets of The Associated Journals Ltd. There are sufficient grounds for proceeding against all of them.”