- Last 16 odd tweets summarise facts of #NationalHerald from Order. Undoubtedly dubious transaction with ulterior motives.. But was it crime?
- All bad transactions are not criminal offences... Million dollar question is if the patently bad transaction in #NH a criminal offence?
- As per SC, concept of "locus" is alien to criminal law.. Anyone can set criminal machinery in motion.. So Swamy Complaint in #NH was fine.
- #NationalHerald ..Sonia/Rahul have been accused of defrauding #Congress by an outsider (thats the case).. In Law, 1. Can they be? 2. Can he?
- Question arising on #NationalHerald transaction is does Gandhi Family own #Congress so that it can extinguish its assets at its sweet will?
- It can't be denied that by the transaction in #NationalHerald SoniaG & RahulG have deliberately caused loss to #Congress Party of 90 Crores.
- Those forming independent opinion on #NationalHerald Case, examine the transaction & legality of order separately... Both raise questions.
- Facts on #NationalHerald transaction are all over media in bits & pieces.. Order gives clarity on them.. Can be summarised as follows.. 1/16
- Fact 1. #NationalHerald was paper started by Nehru & owned by company called Associated Journals (AJ).. Fact 2. NH closed down in 2008. 2/16
- Fact 3.. Order says AJ also closed down in 2008 but its evident that it continued.. Fact 4.. AJ had assets ie real estate worth 2000Cr. 3/16
- Fact 5.. #Congress gave interest free loan of 90.25 Crores to AJ.. Not clear when it was given..Order says it was given by Sonia/Rahul. 4/16
- Fact 6.. In November 2010, Sonia/Rahul formed Young India (YI), a Section 25 CA56 Company. Sonia/Rahul held 76% & MotilalV/OscarF 24%. 5/16
- Fact 7.. In December 2010, Board Meeting of AJ declared that #Congress Loan of 90.25 Cr can't be repaid & decided to transfer it to YI. 6/16
- Fact 8. AJ Board decided to transfer #Congress Loan of 90.25 Cr to YI for consideration of 50Lakhs & also issue 99% shares of AJ to it. 7/16
- Fact 8 continued.. Sanction of existing shareholders NOT taken for share issue..YI took 99% stake in 2000Cr Company for 99.25 Cr & 50L. 8/16
- Fact 8 Continued.. 90.25 Cr #Congress Loan could be repaid selling 2000Cr Property.. Balance could have gone to existing shareholders. 9/16
- Fact 9.. MotilalV/OscarF/SumanD/SamP were directors of AJ who did transaction of share issue to YI in lieu of 50L & #Congress Loan. 10/16
- Fact 10.. In the meantime #Congress Party under Sonia/Rahul wrote off the 90.25 Cr loan given to AJ as unrecoverable.. 11/16
- Fact 10 Continued.. #Congress wrote off loan to AJ without making any efforts of recovery though AJ had assets worth 2000 Crore. 12/16
- Fact 11.. YI having taken control of AJ formally stopped publication of NH though YI-MOA said company formed for publishing paper.. 13/16
- Fact 11 Continued.. YI took total control of AJ & its assets and gave out properties of AJ on rent fetching about 60L per month. 14/16
- Fact 12.. After taking over 99% of AJ, YI wrote off the investments in books. (Have read elsewhere that 50L was written off in P/L). 15/16
- Effect of NH transaction.. 1. #Congress lost 90.25Cr 2. YI got control of 2000Cr for 50L 3. Old shareholders of AJ lost 99% of 2000Cr. 16/16
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Difference between National Herald scam and 2G scam: @1947 vs. @2001 prices -- MRV. One is Rs. Second convertible currency.
Anirban Roy ↧