Today, the Rouse Avenue Court in Delhi will once again hear the National Herald money laundering case involving Congress leaders Sonia Gandhi and Rahul Gandhi. Strict security measures have been implemented in the court premises to prevent any disruption during the proceedings.
New Delhi: The National Herald case is once again in the headlines. Today, the Rouse Avenue Court in Delhi will hear this much-discussed money laundering case, in which serious allegations have been leveled against Congress interim president Sonia Gandhi, MP Rahul Gandhi, and several other senior leaders. Arguments against the chargesheet will be presented by Sam Pitroda today. Earlier, on May 2nd, the court had issued notices to the Gandhi family, Young Indian Private Limited, and other co-accused.
What is the National Herald Case?
The roots of this case are linked to the Indian freedom struggle. In 1938, Pandit Jawaharlal Nehru launched the newspaper 'National Herald'. It was published by Associated Journals Limited (AJL), which also published two other newspapers, 'Navjivan' (Hindi) and 'Qaumi Awaz' (Urdu).
By 2008, AJL had suffered significant financial losses and was forced to cease publication of its newspapers. At that time, the company owed approximately ₹90 crore (900 million rupees), a loan provided by the Congress party.
The Beginning of the Controversy
In 2010, Congress leaders established a new company, 'Young Indian Private Limited', with Rahul Gandhi and Sonia Gandhi holding 76 percent of the shares. The remaining 24 percent were held by senior Congress leaders Motilal Vora and Oscar Fernandes. Subsequently, the Congress party transferred the ₹90 crore loan given to AJL to Young Indian.
Since AJL was unable to repay the loan, it transferred most of its assets (approximately 99 percent of its shares) to Young Indian. Young Indian paid only ₹50 lakh (5 million rupees) in return.
Subramanian Swamy's Petition
BJP leader Dr. Subramanian Swamy filed a petition in court in 2012 regarding this transaction. He alleges that Congress leaders gained control of assets worth ₹90 crore for a mere ₹50 lakh, which he considers illegal and fraudulent. He has termed it money laundering and criminal conspiracy. The petition states that Rahul Gandhi and Sonia Gandhi orchestrated this scheme, enabling Young Indian to gain ownership of National Herald's real estate, valued in the crores.
It is alleged that Young Indian operates like a commercial company while registered as a non-profit organization under Section 25 (now Section 8).
What's Special About Today's Hearing?
Today, arguments against the chargesheet will be presented by Sam Pitroda. Sam Pitroda is a board member of Young Indian and claims that the entire matter is politically motivated. Tight security arrangements have been made outside the court, and the media's attention is focused on this hearing.
