To clear air on Herald issue, Cong posts FAQs on website

PTI Updated - February 07, 2016 at 04:29 PM.

The Congress has come out with a set of ‘Frequently Asked Questions’ to present its side of the story regarding the National Herald issue as the party said the Gandhis have not benefited financially from Young Indian Ltd.

The party also dismissed as “absolutely false” the claim that Young Indian (YI) Ltd, the company formed in the wake of financial troubles concerning Associated Journals Ltd (AJL), was a “real estate company”.

The Congress also underlined that there is no restriction in law on political parties giving loans and the Election Commission had issued a clear order in this regard in November 2012.

“BJP leader Subramanian Swamy had sought derecognition of Congress on this ground but his complaint was dismissed by a full bench order of the Election Commission” at that time, AICC said.

On whether Sonia or Rahul Gandhi benefited financially from Young Indian, it said, “No. As directors or shareholders of Young Indian, a non-profit, Section 25 company, they are prohibited by law from drawing (and have not drawn) any financial benefits from the company.” It also denied that any assets were transferred from AJL to YI.

“All the assets and the income of AJL remain with the company. Not a single paisa has gone to YI, YI Directors or YI shareholders,” it said in the FAQs on its website under the heading, ‘National Herald’.

It rejected as “false” the claim that YI was created to usurp the property owned by AJL.

“On the contrary, Young Indian, being a non-profit Section 25 company, as the major shareholder AJL, in fact, enhances the safeguards on the properties of the AJL,” it said.

On the claim by Finance Minister Arun Jaitley that YI is a real estate company, it said the statement was “absolutely false”.

“Absolutely false. YI does not own a single real estate asset or immoveable property. AJL continues to own all its assets. The allegation is, therefore, completely baseless,” it said.

Published on February 7, 2016 10:58