Some Times By : Santosh Bhatt
National Herald Case : Explained by S.Gurumurthy“Recall the National Herald Fraud in brief & in details to know how greedy petty and how criminal are the Gandhis — Sonia & Rahul.
1. NH case facts: Financial crisis forced Associated Journals Limited [AJL] publishers of NH founded by Nehru, to close it down in 2008.
2. To pay off the employees to help the closure, the Congress Party had given interest free loan of Rs 90 crore plus to AJL, then.
3. With NH shut, AJL had become a mere real estate co in 2008, with properties in Delhi, Lucknow and Mumbai of over Rs 2000 crore.
4. Against RS 2000 cr properties, AJL owed just Rs 90 cr to Congress. It had very little liability, besides. A sitting duck for fraudsters
5. Rs 2000cr properties minus off Rs 90cr to Congress legally and morally belonged to AJL’s thousand plus shareholders.
6. Big and small, N H Shareolders had contributed Rs 89 lakhs to AJL’s capital, when the Rupee was hundred times more valuable.
7. If AJL’s properties had been realised and distributed to shareholders, like hundreds of them would have got lacs of Rupees each
8. Brahm Dev Narain, teacher, holding just 41 shares in AJL, would have got some Rs 84000. Hundreds of others would have got similar sums
9. Now the greedy conspirators — Sonia, Rahul and others enter and grab the wealth of hundreds of others by fraud, cheating & breach of trust
10. But, defying both law & morals, Sonia &Rahul misappropriated control of AJL’s 2000 cr assets without paying a dime to AJL’s shareholders.
11. In just 3 months, Nov 2010 and Feb 2011 and in three moves, control of thousands of crore worth properties passed to the Gandhi family.
12. Here unfolds fraud. 1st step: in Nov 2010, a trust co named “Young Indian” was mysteriously formed with capital of just Rs 5 lakhs
13. Who owned Young Indian? – Sonia and Rahul 38 % each, totalling 76%, balance 24% held by two family retainers, Motilal Vohra and Oscar Fernandez.
14. 2nd step, very next month, December 2010, Gandhis got the Congress to assign its dues of 90 cr plus to Young Indian for just Rs 50 lacs
15. Congress wrote off balance Rs 89.75 cr. This creative – criminal – accounting substituted Young Indian for Congress
16. AJLs dues of Rs 90 cr to due congress became payable to Young Indian [YI] Now AJL has to pay Rs 90 cr to YI. See the fraud now
17. AJL converted the Rs 90 cr plus due to Young Indian into equity shares and allotted them. By this step, YI became 99 % owner of AJL
18. YI [Gandhis] became owner of 99% Rs 2000 cr real estate. Why should Congress write off Rs 89.75 cr due from YI which had 2000r assets
19. YI story stinks more. With Gandhis+proxies holding 100% of AJL, its directors are Sonia, Rahul and their lotas Vohra, Oscar, Dubey & Pitroda
20. What YI’s objects? As per its report of 27th April 2012], it is “to inculcate in India’s youth commitment to democratic and secularism”.
21. See what is the first act of this idealist company, after its birth in November 2010, to “inculcate” democracy & secularism in youth.
22. YI’s first act in pursuance of its ideals was to take over the “loan of 90 cr owed” by AJL for just Rs 50 lakhs to become APL’s 99% owner.
23. The 1st act of YI to promote idealism in Indian youth was to defraud the Congress party of 89.75 cr first
24. The next act of YI was to defraud the shareholders of AJL of couple of thousands crore on the other. See how the plot thickens.
25. Sonia Rahul plus their proxies use their voting power over AJL to change its activities” to align AJL’s objects YI’s “main objects”.
26. And “as part of the restructuring exercise of” AJL the “loan was converted into equity”. A joke! Pauper YI says it will restructure AJL!
27. YI is a pauper. From Nov 2010 to March 2012, YI’s total income was just Rs.800 & its loss after deducting 800, was Rs 69.78 lac. A Bankrupt indeed
28. Does AJL, with 2000r real-estate need an asset-less and income-less pauper Young India for its restructure? See the deepening design.
29. YI’s annual report intentionally conceals the crucial fact that the loan of Rs 90 cr plus owed by AJL to it was originally due to Congress
30. The intention was that looting of congress by YI should be concealed YI also suppresses that AJL with Rs 2000 cr asset is its subsidiary.
31. YI says that shareholders – who? Sonia, Rahul, Vohra, Oscar, Dubey and Pitroda! – will get information regarding the subsidiary on request!
32. This is a fraud as per company law, which mandates that the details of the subsidiary be available to the public. More.
33. YI also totally suppresses its 99 percent holdings in AJL treating the amount paid for it as expenditure for its objects, not investment.
34. An investment whose value is Rs 2000 cr is written off in books as merely an expenditure? Mother of all frauds to cancel YI’s 2000 cr assets
35. By fraudulent accounting payment of Rs 50 lacs for 99 percent of shares of AJL worth 2000 cr is shown, not as an asset, but as spend! Why?
36. Obvious. To keep the 2000 cr defrauded asset out of the balance sheet of YI! See more fraud
37. YI blatantly lies that the net worth of AJL is negative [whereas it is plus 1900cr], YIs 99% holdings in AJL is written off!
38. Truth is AJL had positive net worth [on 31.3.2011] of Rs 8 crore; of which Young Indian’s 99 percent share is Rs 7.92 cr.
39. So the negative net worth story about AJL is a fabrication. The real net worth of Young Indian is of course 2000 cr plus minus
40. The final lie. After Swamy’s expose, the Congress, with tears in its eyes said on Nov 3, ’12, that NH revival was was an “emotional issue”
41. Congress had paid 90r in 2008 to help close, not revive, the Herald. It cries in 2012 that it paid that to revive NH!
42. And 3 weeks before Congress shed tears to revive NH, on Oct 11, 2012, Rahul emphatically told Pioneer YI had no intention to run a paper.
43. Rahul’s office email told Pioneer “Young Indian is a not-for-profit company and does not have commercial operations — namely newspapers.
44. Rahul email also said YI had no intention to run newspapers. Any proof needed for the fake sobbing story of NH revival? A post facto lie?
45. The Gandhi family usurping the AJL’s Rs 2000 cr real estate, with the funds of the Congress and through Young India, is fraud all the way.
46. It is a fraud on the Congress. on the shareholders of AJL. And on the National Herald.
47. Pundit Nehru once said “I will not let the National Herald close down even if I have to sell [my own house] Anand Bhawan”.
48. And now? The greedy and fraudulent Gandhis have buried the National Herald and looted its real estate. Fake Gandhis are not even dynastic
49. National Herald fraud by the two Gandhis and their proxies is an open and shut case. It just needs one honest judge to send them to jail.
50. I recollected the whole fraud since several million more readers and people have come into the scene since 2012. For their knowledge.”
Filed under: English