What was that deal, due to which Rahul and Sonia were accused of financial fraud? National Herald Case

Publish Date: 16 Jun, 2022 |

Congress leader Rahul Gandhi was questioned at the Enforcement Directorate's office for the third consecutive day in the National Herald case. The Enforcement Directorate (ED) has arrested Congress President Sonia Gandhi and party leader Rahul Gandhi for questioning in a money laundering case related to the National Herald news paper. 

Summons were issued. After the summon, Rahul has appeared before the ED and Sonia Gandhi is to appear before the ED on June 23. Actually this case is related to financial irregularities in the acquisition of Associated Journals Limited i.e. AJL Company by Young India Limited, a company owned by Rahul Gandhi.

What actually is the National Herald Case?

BJP leader Subramanian Swamy filed a petition in Delhi's Patiala House Court in 2012 against Sonia Gandhi, Rahul Gandhi and Congress's Motilal Vora, Oscar Fernandez, Sam Pitroda and Suman Dubey for cheating the loss-making National Herald newspaper. Was accused of grabbing through misappropriation.

Allegedly Sonia Gandhi and Rahul Gandhi together formed a company which was used to buy AJL (AJL) and to acquire its assets worth Rs 2 thousand crores. After this, Young India Company was formed on 26 February 2011 at a cost of Rs 5 lakh, in which Sonia and Rahul have 38-38% stake. Congress leaders Motilal Vora and Oscar Fernandez held the remaining 24%. Both are no longer in this world.

Young India Company has taken over the liabilities of Associate Journal Limited (AJL) worth 90 crores. Means, in a way, took the responsibility of repaying his loan. Later, nine crore shares of 10-10 rupees of AJL were given to 'Young Indian' and in return Young India had to repay the loan of Congress. Young Indian got 99% shares of this company with 9 crore shares. Later the Congress party waived the loan of 90 crores. In this way, Rahul-Sonia Gandhi's company 'Young India' got the ownership of (AJL) for free.

Allegations on Rahul Gandhi

Swamy alleges that YIL got the right to take over properties of National Herald to recover its loan, including its building in prime location of Delhi, which is worth around Rs 2,000 crore. It is alleged that the assets of Young Indian Limited, formed in 2010 for Rs 5 lakh, have increased to Rs 800 crore within a few years.

On the other hand, the Income Tax Department says that Rahul Gandhi earned Rs 154 crore from shares held by him in Young Indian Limited. The Income Tax Department has already issued notice for payment of tax of Rs 249.15 crore to Young Indian Limited for 2011-12.


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