Patiala House Court to hear Swamy's plea on National Herald case on Friday
The Patiala House Court is scheduled to hear a plea related to the National Herald Case, filed by Rajya Sabha Member of Parliament and Bhartiya Janata Party leader Subramaniam Swamy on Friday.
New Delhi: The Patiala House Court is scheduled to hear a plea related to the National Herald Case, filed by Rajya Sabha Member of Parliament and Bhartiya Janata Party leader Subramaniam Swamy on Friday.
The Court on March 11 last, gave its nod to Swamy's plea to seek the balance sheets of Indian National Congress and associated Journals Pvt Ltd. in connection to the case.
Beside Congress President Sonia Gandhi and Vice President Rahul Gandhi , Motilal Vora, Oscar Fernandes, Suman Dubey and Sam Pitroda are the other accused in this case.
It may be recalled that, the application moved by Swamy before Metropolitan Magistrate Lovleen had sought to summon the balance sheets, receipts, income and expenditure statements of INC,AJL and Young Indian Pvt Ltd for the assessment years 2010-11, 2011-12 and 2012-13.
The BJP MP had also accused Sonia and Rahul along with others of conspiring to cheat and miss appropriating funds." The accused had paid just Rs. 50 lakh by which YI obtained the right to recover Rs. 90.25 crores which the AJL had owed to the Congress," Swamy had stated in the plea.
What is National Herald Case?
- It is an ongoing case in a Delhi court filed by Indian economist and politician Subramanian Swamy against politicians Sonia Gandhi and Rahul Gandhi, their companies and associated persons.
- As per the complaint filed in the court , INC had allegedly granted an interest-free loan of ₹90.25 crore (US$13 million) to Associated Journals Limited (AJL), owner of the National Herald newspaper which was established by Jawaharlal Nehru and other freedom fighters in 1938.
- It was alleged that the loan was either not repaid or repaid in cash, which is in violation of Section 269T of the Income Tax Act, 1961.
- It was also mentioned in the complaint that Young Indian, a company,was incorporated in November 2010 with a capital of ₹50 lakh (US$74,000) and it acquired almost all the shareholding of AJL and all its properties alleged to be worth ₹5,000 crore (US$740 million).
- Swamy alleged criminal misappropriation by both Sonia Gandhi and Rahul Gandhi. The courts have determined that a prima facie case has been established in the matter.
The Patiala High Court had issued notices to Congress President, Vice President and other five accused in this regard in August last seeking presentation of certain documents from AJL and INC.