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2000 cr National Herald scam brilliantly explained

Author: S Gurumurthy

1. Big and small, N H Shareholders had contributed Rs 89 lakhs to AJL’s(Associated Journals Limited) capital, when the Rupee was hundred times more valuable.

2. Against RS 2000 cr properties, AJL owed just Rs 90 cr to Congress. It had very little liability, besides. A sitting duck for fraudsters

3. NH case facts. Financial crisis forced Associated Journals Limited [AJL] publishers of NH founded by Nehru, to close it down in 2008.

4. 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.

5. Brahm Dev Narain, teacher, holding just 41 shares in AJL, would have got some Rs 84000. Hundreds of others would have got similar sums.

6. 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.

7. Rs 2000cr properties minus off Rs 90cr to Congress legally and morally belonged to AJL’s thousand plus shareholders.

8. If AJL’s properties had been realized and distributed to shareholders, like hundreds of them would have got lacs Rs each

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. 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 total 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 story stinks more. With Gandhis + proxies holding 100% of AJL, its directors are Sonia, Rahul their flunkies Vohra, Oscar, Dubey & Pitroda

19. What is YI’s objective? As per its report of 27th April 2012], it is “to inculcate in India’s youth commitment to democratic and secularism”.

20. See what is the first act of this idealist company, after its birth in November 2010, to “inculcate” democracy & secularism in youth.

21. 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

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. 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

24. The 1st act of YI to promote idealism in Indian youth was to defraud the Congress party of 89.75 cr.

25. 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.

26. Does AJL, with 2000r real-estate need an asset-less and income-less pauper Young India for its restructure? See the deepening design.

27. Sonia Rahul plus their proxies use their voting power over AJL to change its activities” to align AJL’s objects YI’s “main objects”

28. And “as part of the restructuring exercise of” AJL the “loan was converted into equity”. A joke! Pauper YI says it will restructure AJL!

29. YI is a pauper. From Nov 2010 to March 2012, YI’s total income was 800 & its loss after deducing 800] was Rs 69.78 lac. Bankrupt indeed

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 on 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 2000cr 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 2000cr is shown, not as an asset, but as spend! Why?

36. Obvious. To keep the 2000cr 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 Harold 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. Now can we not understand why the shrill cry of intolerance. Why the antics in LS/RS. They are now preparing a case of political vendetta.

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