Thursday, November 29, 2012

ओछी हरकतों पर उतरे कांग्रेस समर्थक ?

जनता पार्टी अध्यक्ष डा. सुब्रमण्यम स्वामी ने कांग्रेसी सरकार व इनके नेताओं के भ्रष्टाचार उजागर कर करके इन सबकी नींद उड़ा रखी है. भारतीय लोकतंत्र के इतिहास में भ्रष्टाचार के नित नये काम करके झंडे गाड़ने में तो कांग्रेसी अव्वल रहे हैं परंतु अब इनके हाथों के तोते उड़ते दिख रहे हैं.
इन्हे कुछ सूझ ही  नहीं पा रहा.

पहले तो तो गुलाम मीडिया का सहारा ले ले कर खबरें दबाने का खूब कुप्रयास किया. फिर तीन बार डा. स्वामी के ऊपर हमला करने की  नाकाम कोशिश की. फिर अदालत में ले जाकर मानहानि का केस दायर करने की बन्दर घुड़की भी जब काम न आई तो अब ये लोग ओछी हरकतों पर उतर आये हैं.

डा.स्वामी  व उनके कार्यालय के फोन नम्बरों व  ई-=मेल का सहारा लेकर आगरा के दो हिन्दी दैनिक अखबारों- जागरण तथा अमर उजाला में नौकरी के फर्ज़ी विज्ञापन दे दिये ताकि डा. स्वामी व  उनका पूरा कार्यालय दिन रात आने वाले फोन कालों से ही घिरा रहे . यदि वे अपने फोन बन्द कर दें तो अपने समर्थकों की  दुनिया से कट जायें.

मंगल वार 27 नवम्बर को जब ये विज्ञापन  प्रकाशित हुए तो जैसा कि साजिश थी, डा. स्वामी के पास फोन  का तांता लग गया और उन्हे  परेशान होना पड़ा.

बाद में ज़ॅब जानकारी एकत्र की गयी तो पता लगा कि ये फर्ज़ी विज्ञापन "झा पब्लिसिटी सर्विस,कमला नगर , आगरा " के माध्यम से आये थे, जब इन दोनों समाचार पत्रों को कानूनी नोटिस भेजा गया तो उन्हे भी खेद व्यक्त करना पड़ा.

देखना यह है कि अब इन कांग्रेसी जनखानुमा नेताओं के पास क्या नया हथकंडा है?

इन्हे असली जवाब तो जनता की अदालत में देना होगा . इन्हे अब अहसास हो गया कि इनका पत्ता कटने वाला हैं .तभी तो ये लोग नीच हर्कतों पर उतर आये हैं. 

Tuesday, November 27, 2012


West Bengal unit of Janata Party will hold a massive demonstration in Kolkata on Thursday November 29.
The demonstration is to protest against the  anti-people policy  of  the central government.

The protesters will be led by state unit chief Mr. Tilak Ganguly.

The demonstrators will assemble at Rani Rashmoni Avenue and court arrest after the demonstration.

Saturday, November 24, 2012


                                   Subramanian Swamy

On December 6, 1992, a super structure called the Babri Masjid standing in the city of Ayodhya, came crashing down. It remains even today a traumatic event for the nation, because modern Indians have not yet been weaned on a true history of India, and hence a large section of our educated class still view the destruction of the structure as criminal vandalism.
If it was not, then what was it? It was a superstructure built on an existing temple, and to have demolished the temple to build a mosque was the real act of vandalism.
Two years earlier before the demolition, by a coincidence, on the same month and day, I had met representatives of the VHP and BJP at a house, next door to mine, on Mathura Road. The newly sworn in Prime Minister Mr. Chandrashekhar had asked me [I was then his newly sworn in senior most Cabinet Minister] that as the new Union Law& Justice Minister, I should talk to them about withdrawing their proposed massive nation-wide stir slated to begin on December 9, 1991 for building a Ram temple at the site the super-structure had then stood in its gloomy glory. He told me to assure the VHP that our government would get removed the Babri Masjid with the consent of Muslim leaders through discussions.
The VHP and BJP leaders I met readily agreed to call off the stir since we were a new government, while the stir decision was taken when V.P. Singh was PM.
Thereafter in January 1991 talks began initiated by Chandrashekhar himself with the Muslim leaders. Unfortunately, despite the zig-zag progress in the talks, our government did not last long enough to fructify it.
Had instead the government lasted for a year more, I am confident we would have amicably liberated the Ranjanmabhoomi for building a befitting Ram temple, and with the consent of the Muslim community, even though the Government was in the minority in the Parliament.
From my personal experience as a Minister in a minority government, I can therefore say that lack of majority is no excuse for implementing any agenda, if the leadership had the mindset to get things done.
As a Minister of Law &Justice, for instance, I got the controversial Sessions Judge of Faizabad, K.M. Pandey a High Court judge, despite the fact that the previous V.P. Singh's “three-legged” government had issued orders on file that since Pandey had directed the locks on the so-called Babri Masjid  be removed in 1986, he should never be made a High Court judge.
Mulayam Singh was our Chief Minister of UP, but with firmness I however got his protests sufficiently moderated to his permit me to go ahead. He cooperated because he knew I would do it anyway-- make Pandey a judge of the High Court—and hence he acquiesced since he wanted other things done for him by me,.
The same clarity enabled the Chandrashekhar government to get Saifuddin Soz's kidnapped daughter freed without releasing any dreaded terrorists. There are methods for doing that—mostly based on retaliation. In each case it is the mindset of those elected to high office that matters, not the size of the parliamentary majority or lack of it.
 It was this mindset that enabled the Chandrashekhar government to nearly solve by an agreement the question of building of a Ram temple in Ayodhya. The government however fell before it could be clinched.
But could the Babri Masjid have been demolished in a more legally authorized way? Hindus should not be defensive in the face of an onslaught by the fashionable secularists about removing mosques built on where temples had once stood, because the Supreme Court has held in the Faruqui vs. Union of India case [(1994)6 SCC360], that a masjid is not an essential part of Islamic theology, and these can and have been be demolished for public good.
Saudi Arabia, Pakistan, and even in British undivided India, masjids have demolished mosques to build roads. Saudi Arabia even demolished the Bilal Masjid in Mecca where Prophet Muhammed used to read namaz.
Masjid, like Churches are not religious places in the sense a temple is.  Masjids and Churches are places for worship, i.e., buildings which serve as facilitation centres for namaz and prayer. Namaz can be read anywhere even on a railway platform. In USA, VHP buys disused Churches and converts them into temples, and yet no Christian there objects.
But temples, once it is shown that prana prathista puja was performed to build it, is where God or deity resides, and belongs to God forever.  As Union Law&Justice Minister in 1991 I got our government legal team to prove this to the satisfaction of the House of Lords in Britain, to bring back a Nataraja statue taken from a disused Thanjavur temple. It was at Rajiv Gandhi’s request I took interest in the case!
Of course, because of this fact about masjids and churches, no one in a democracy can take law into his own hands to demolish these masjids and churches. Nor will the Hindu public wait forever.
But on the other hand, a Government can remove in a legal and orderly way the masjids in Ayodhya, Kashi, and Brindavan,  in fact in 300 other places, to rebuild the original temples under law. We can get Muslims cooperation in this. I am confident of this.
Babri Masjid was built as an affront to Hindus. Otherwise it could have been built anywhere else since namaz can be offered anywhere. Hindus have however prevailed because despite 800 years of Islamic and 200 years of Christian domination, Bharat today is still over 80% of Hindus in population, and a continuing Hindu civilization. Hence, now we must resolve to rectify what is essential to rectify and reclaim. For that restoration of three holy sites, in Ayodhya, Vrindavan, and Kashi. For these three, we patriotic politicians must resolve: Come our way or go the highway.
But it is easier said than done to expect that politicians would do or die for it. As our rudderless democracy has drifted, we are today in a "match-fixing mode" even in electoral contests. In Tamil Nadu, the DMK and AIADMK are bitter enemies, but in most crucial constituencies, a match-fixing arrangements for money have been worked out for decades between Sasikala of the AIADMK and Arcot Veerasamy of the DMK, who are alter egos of their respective top leaders, and determined to keep out the Hindutva forces from Tamil Nadu.
The same match-fixing disease has spread to other parties nation-wide. We have to cure it before it completely debilitates and destroys our democracy as it has done in Banana Republics of Latin American countries such as Colombia and Peru.
The reluctance today to confront and expose the anti-Hindu personages in Parliament, Academia and Media because of this disease of "match-fixing". It is said that such attacks would be “personal” and “counter productive”.
There is however nothing "personal" in such directed and organized attacks. Just as the world focused on Hitler or Mussolini, without thinking of it being personal, therefore we should identify and expose especially the person who today has emerged as the fountain head of the anti-Hindutva campaign today.
But we cannot prevail in this struggle, if we have in our midst those suffering from the "Arjuna virus" as-the late Swami Chinmayananda once pointed out, referring to Arjuna's initially declining to fight at Kurukshetra because he could recognize his duty in the hour of crisis. Babri Masjid legacy is that virus we still have to cure twenty years later.

Friday, November 23, 2012

भद्द पिटी अविश्वास प्रस्ताव की: ममता ने कराई छीछालेदर

संसद के शीतकालीन अधिवेशन के पहले दिन वही हुआ जिसका डर था. तमाम विपक्षी दलों से कोई सहयोग न मिलने के बावज़ूद अविश्वास प्रस्ताव लाने की ज़िद पकडे तृणमूल कांग्रेस ने लोकसभा में अविश्वास प्रस्ताव  पेश किया  और अपनी राजनीति की खुल्लम्खुल्ला छीछालेदर करवाई.


ममता बनर्जी को यह बखूबी पता था कि कोई उनकी पार्टी के अविश्वास प्रस्ताव का समर्थन नहीं करने वाला है. अविश्वास प्रस्ताव  लाने के लिये न्यूनतम 10 प्रतिशत सांसदों का समर्थन होना आवश्यक है. निर्धारित संख्या न होने पर प्रस्ताव खुद-ब-खुद गिर जायेगा. फिर भी मात्र 19 सदस्य होते हुए भी यह अविश्वास प्रस्ताव क्यों लाया गया ? इसका उत्तर और कोई तो खैर क्या देगा,ममता खुद भी नहीं दे सकती.

अब ममता बनर्जी  भाजपा तथा वामपंथी दलों को कोसने में लगीं हैं. प्रशन दाग रहीं है कि ग्यों इन दोनों मुख्य विपक्षी दलों ने उनकी पार्टी के अविश्वास प्रस्ताव का समर्थन नहीं किया? इस सादगी पर कौन न मर जाये ए खुदा !!!


क्या ममता इतनी भोली हैं कि उन्हे उम्मीद थी कि भाजपा व साम्यवादी दल उनका समर्थन करेंगे? उन्हे लगभग ऐसी ही उम्मीद उन सारे दलों – बीजे डी, अना द्रमुक, द्रमुक, समाजवादी पार्टी, बसपा  से भी थी ? वाकई अगर वह इस उम्मीद में जी रहीं थीं तो कहा जा सकता है कि वह इतने वर्ष राजनीति में रहने के बावज़ूद कुछ भी न सीख सकीं.


यह शीशे की तरह स्पष्ट था कि सपा (मुलायम सिंह), बसपा  (मायावती) व द्रमुक ऊपर से भले ही खुदरा किराना में विदेशी निवेश का विरोध करते दीखते हों, उनमें इतना माद्दा नहीं है कि वे इसका विरोध सदन में कर सकें. यदि संप्रग ( यूपीए) को छोड़कर पूरा विपक्ष भी अविश्वास प्रस्ताव की साथ खडा हो जाता तो भी ये तीन दल प्रस्ताव का समर्थन नहीं करते. अन्न द्रमुक ने तो विरोध जताया पर ममता के अविश्वास प्रस्ताव पर कभी भी अपने पत्ते नहीं खोले थे.  बच गये वामपंथी और राजग ( एन डी ए) .


जिस वामपंथी गठबन्धन को पराकित कर ममता सत्ता में आयीं है,वे ममता का समर्थन भला क्यों करेंगे ? क्या ममता की राजनीति  इतनी अपरिपक्व है कि सोच कर  बैठी थीं कि “ मरता ,क्या न करता” के चलते वामपंथी उनके खेमे में “ आ गिरेंगे” .


फिर भाजपा और राजग को लेते हैं . यह सत्य है कि राजग की निगाहें ममता पर लगी हैं  ( देखा जाये तो ममता के पास और कोई चारा भी नहीं है) . पर 19 सदस्यों वाली ममता को इतना अहंकार था कि बिना भाजपा की चिरौरी ,अनुनय –विनय  करे उन्होने भाजपा को मज़बूर समझ लिया. भाजपा/ राजग  को संख्या बल का पूरा सही आकलन था ,यही सोचकर उन्होने कभी  अविश्वास प्रस्ताव की बात दूर दूर तक नहीं सोची. मात्र नियम 184 के आगे यह सोच गया ही नहीं ,जो सही भी था.


तृणमूल कांग्रेस के 19 और (बोनस स्वरूप मिले ) बीजू जद के 3 मिलाकर 22 सदस्यों का समर्थन मिल पाया प्रस्ताव को.

 इसे गिरना ही था. इस प्रस्ताव का तो वही हश्र हुआ जो अपेक्षित था.


प्रस्ताव की तो  भद्द पिटनी थी सो पिटी.  हां ममता की राजनीति की खूब छीछालेदर हो गयी. राष्ट्रपति चुनाव में भी यही हुआ था .यह ममता की दूसरी भयंकर भूल थी. साबित हो गया  कि ममता ने कच्ची गोलियां ही खेली हैं



( साभार : हिन्दी ब्लोग भारतीयम से )

Thursday, November 22, 2012

Swamy writes to President on citizenship issue of Rahul

Letter to President of India 9 11 12

November 9, 2012.

Mr. Pranab Mukherjee,
President of India,
Rashtrapati Bhavan,
New Delhi.

Dear Mr. President,

I am writing this letter by way of providing as yet not formally confirmed information and hence not as yet evidence.
Mr. Rahul Gandhi, MP was born at a time when his mother Ms. Sonia Gandhi was an Italian citizen. {She became an Indian citizen vide Section 5 of the Indian Citizenship Act in 1983}. 

According to Italian law at that time, any person born to an Italian citizen mother is deemed to be an Italian citizen unless a formal renunciation of Italian citizenship is made by the child upon becoming an adult. At the time of Mr. Rahul Gandhi’s birth, his mother had informed the Italian Embassy of the same which the Embassy then forwarded it to the Interior Ministry in Rome, Italy for recording in their Citizen’s Register.

Therefore, my information is that Mr. Gandhi’s name was entered under whatever name that was communicated by the Italian Embassy, in the Citizenship Register of Italy.

I have not been able to verify as yet whether upon becoming an adult, Mr. Gandhi formally renounced Italian citizenship or has continued as yet for some obscure reason, as a citizen of Italy.

Only a formal request from the Government of India can clarify this position. The former Prime Minister Mr. Narasimha Rao had in a casual conversation told me that he had been informed that Mr. Gandhi was still a citizen of Italy. But this is hearsay and not yet confirmed evidence.

In my view it will be fair and legally appropriate in your position as President of India and custodian of the Constitution that you make a formal request through our Government to the Government of Italy to provide a copy of the file relating not only to Mr. Rahul Gandhi’s citizenship but also of Ms. Sonia Gandhi and her daughter Priyanka so that this controversy regarding Ms Sonia Gandhi and her two children’s citizenship status in Italy, is set at rest. 

Yours sincerely,

SC issues notice to 2 firms on Subramanian Swamy's plea

The Supreme Court today issued notices to Chennai-based Advantage Strategic Consulting Private Ltd and its offshore sister concern on a plea of Janata Party President Subramanian Swamy seeking initiation of contempt proceedings against them for filing a defamation suit in Singapore against him, reports PTI.

The apex Court today issued notices to Chennai-based Advantage Strategic Consulting Private Ltd and its offshore sister concern on a plea of Janata Party President  Dr. Subramanian Swamy seeking initiation of contempt proceedings against them for filing a defamation suit in Singapore against him.

JP Chief Dr Subramanian Swamy  had filed contempt plea against the companies, including Advantage Strategic Singapore, which had filed the defamation suit against Dr.  Swamy for allegedly defaming them in judicial proceedings related to 2G spectrum allocation scam case.

"We will issue notices to two companies to seek their responses... returnable within 12 weeks," a bench of justices G S Singhvi and K S Radhakrishnan said, moments after Swamy rose to advance his arguments on his contempt petition.

Dr. Swamy’s plea was that  the companies had intentionally filed suits in Singapore to harass him and to make him run around the world. This would actually prevent him from pursuing corruption cases against P Chidambaram and his son.

Wednesday, November 21, 2012

JP National Council Meeting

National council meeting of Janata Party is proposed to be held in New Delhi on March 17,2013.  Last such meeting was held in New Delhi in 2004,when some changes in the constitution were made.
It has been proposed to hold this meeting in Delhi on March 17, 2013whiich has significance attached with JP's movement.
The National council consists of the following:
- One representative from every district
-One representative from every Loksabha constituency
-All national office bearers
-All State presidents
-Special invitees
In a letter addressed to all the state presidents by  national general secretary Prof Arvind Chaturvedi, State units have been  asked to send  the names of the representatives from their  state.This list   constitutes National council ( one each from Lok sabha constituency & District unit).
जनता पार्टी की राष्ट्रीय परिषद की बैठक  
 जनता पार्टी की राष्ट्रीय परिषद की बैठक 17 मार्च 2013 को दिल्ली में प्रस्तावित है. इस तिथि(17 मार्च का लोकनायक जे पी  आन्दोलन से सम्बन्ध है)
राष्ट्रीय परिषद  में निम्न सदस्य होते है:
--प्रत्येक जिले से एक प्रतिनिधि -प्रत्येक लोकसभा क्षेत्र से एक प्रतिनिधि
- सभी राष्ट्रीय पदाधिकारी
-सभी प्रदेश अध्यक्ष गण
- विशेष आमंत्रित सद्स्य
राष्ट्रीय महासचिव प्रो. अरविन्द चतुर्वेदी ने पत्र भेजकर सभी प्रदेश अध्यक्षों से अनुरोध किया गया है कि वह अपने प्रदेश के प्रतिनिधियों के नाम तय करके सूचित करें ताकि औपचारिक रूप से राष्ट्रीय परिषद  का गठन पूरा किया जा सके तथा सभी सदस्यों को आमंत्रित किया जा सके.

Friday, November 16, 2012

The Last Gasp of The National Herald

                                      (by Subramanian Swamy )
          To begin with, and briefly: In 2011, Ms. Sonia Gandhi and her son, Mr. Rahul Gandhi, both MPs and hence public servants under the Prevention of Corruption Act,  had floated under Section 25 of the Companies Act, a company called Young Indian Private Ltd.

The Ma-Beta corrupt duo hold 76% of the total equity [38% shares each] in the company, while Motilal Vora, the Congress party Treasurer and Oscar Fernandez,  held the remaining 24%.  If any person or group holds more than 74% of a company’s  equity, then that  company can be virtually administered without caring for other shares holders. Thus, Young Indian is a Gandhi-Maino private enterprise that is to be directly administered by the duo.

   Now we come to the brazen corrupt plot of the duo to acquire another well endowed asset-wise. The Associated Journals Private Ltd. (AJPL), is that another company. AJPL is  the owner- publisher of National Herald, Navjivan, and Quami Awaz newspapers, that was set up by prominent Congress leaders in 1938. Jawarharlal Nehru became President of the company.

Because its object was to publish a newspaper APJL acquired  at concessional rates from central and state governments high value real estate properties in Delhi, Mumbai, Bhopal, Indore, Haryana, and several places in Uttar Pradesh, and some places like on the prime land in Delhi and Lucknow,  built massive offices on public donations for the publishing of its newspapers.

But like all Nehru-Gandhi-Maino proclaimed public “enterprises” , AJPL main mission of publishing newspapers, soon ended in failure . By 1970s all three newspapers were running in terrible losses, and failed to pay employees wages. Labour agitation forced the owners to close the operations in a lock-out. The shareholders list by then had got depleted by death, or alienation, or sale and thus AJPL came fully into the grip of the Nehru dynasty with family retainer Motilal Vora as chowkidar-President,

By 2008 or a little earlier, Rahul Gandhi was inducted as a shareholder in AJ Private Ltd. Rahul Gandhi failed to disclose this in his sworn affidavit filed as a candidate for Lok Sabha in 2009.

In his sworn Assets statement he has declared as ‘Nil’ his  shares in companies, when in fact he at least owned 3 lakh shares in AJPL, and controlling shares in Back- Ops company that he set up during the NDA tenure. Back Ops ownership was later handed over to sister Priyanka by a back dated letter in 2009, who then promptly wound up the company in 2011—maintaining the family tradition of failed enterprises. The assets acquired following Back-Ops liquidation went into Priyanka’s folder.

In 2010, “Operation AJPL acquisition” began by Young Indian and executed in four steps:

(i)           Step 1: Moribund AJPL obtains an unsecured zero interest loan of Rs. 90 plus crores from AICC in 2011 with no stated  purpose [but now the spin given by Congress spokesman Dwidedi is that the loan was for the emotional attachment of Congress party for National Herald]. Section 13A of the Income Tax Act read with Section 29 A to C of the Representation of the People Act prohibits any political party from giving loans to commercial or related enterprises.  Note: Motilal Vora is President of AJPL which received the loan, he is Treasurer of AICC which gave the loan, and he is also a share holder and Director in Young Indian, the prospective buyer of AJPL !

(ii)         Step 2: Young Indian enters the picture with a proposal made by Young Indian Director Motilal Vora to AJPL President Motilal Vora that he will speak to AICC Treasurer Motilal Vora to unburden AJPL of the loans due to AICC by a financial derivative of transfer of liability to Young Indian. Note: It helps that Sonia Gandhi is AICC President and Rahul Gandhi is AICC senior-most General Secretary .

(iii)       Step 3: AJPL acting by a mere Board Resolution dated 20.2.12 and not by a Shareholders Meeting, sells by transfer of shares to Young Indian for a mere Rs 50 lakhs.

Who cares that Young Indian is not a media company and which cannot buy a media company that has got land allotted by government and obtained bank loans on the condition that it is a media company producing newspapers?

(iv)       Before buying AJPL,  RG transfers 2,62,411 of his 3 lakh shares in AJPL to sister Priyanka. Robert Vadra is left out of the deal because Aruna Roy will see to it that Kejriwal will cut him to size, with Ahmed Patel ensuring 24x7 media publicity to scare the wits out of Mr. Vadra.

(v)         Step 4: The 7-storey Herald House now securely with Young Indian, the Mama-beta duo illegally open Herald House which is in prime area of New Delhi, for renting. A Passport Seva Kendra rents a large space of two floors, and Minister SM Krishna inaugurates the office. Huge six months rent is being collected by Young Indian from multinational companies who are soon start offices in Herald House. Acquisition process is now complete.

(vi)       Thus the deal was to grab the Rs. 1600 crore worth Herald House and other properties of the National Herald/Quami Awaz in Delhi, and another Rs. 3400 crores in different parts of UP, Maharasthra and M.P. for which Young Indian made a commitment to pay a mere Rs. 50 lakh to AICC for owning the Rs. 90 crore odd obtained from AICC as an unsecured zero interest loan and now written off by the AICC.

Now what illegalities have been committed?

1.   The deal is a sham, bogus, and a violation of several laws including Companies, Income-Tax Act, Indian Penal Code Sections 405-08, 420, 467, and 193; Election Law, and Government Residence Allotment Rules.

2.   The un-built on land in Mumbai, Indore, Bhopal, Punchkula, Lucknow etc., etc., have been illegally sold to builders of luxury sky scrapers, mall, and housing for Congress Ministers.This is violation of the land allotment orders and a criminal breach of trust.

3.   Young Indian filed statements with the RoC in March 2012 disclosing that the shareholders meetings were held in Sonia Gandhi’s Government allotted 10, Janpath . This is in violation of the law since the 10, Janpath, New Delhi is Government provided accommodation which cannot be used for commercial purposes and business.

4.   More than 80% of the persons mentioned in the 2011 shareholders list filed with the RoC are deceased, such prominent persons such as Jawaharlal Nehru, Indira Gandhi, Sharda Prasad, GD Birla etc., as also some defunct Kolkata based companies. Hence the Board Meeting of AJPL handing over the company to Young Indian is violation of the Companies Act and is an offence as well as a fraud on the public.

I urge therefore an immediate SFIO/CBI probe into this dubious stinking deal between Young India and The Associated Journals, and from the Election Commission for the illegality of the AICC I giving a loan to a private company.

Mr. Rahul Gandhi also committed perjury when he told a lie in his 2009 nomination paper for Lok Sabha that he owned ‘NIL’ shares when he owned in fact over 3 lakh shares of AJPL in 2009.

The bottom line is that National Herald, for which great grand father Nehru pompously said:”I will sell Anand Bhavan but never National Herald”, has been strangulated to death by Rahul Gandhi and his mother. Young Indian objectives do not include bring out a newspaper. Rahul Gandhi himself told the PTI on October 9, 2012 after swallowing AJPL, that “We have no intention to start or revive a newspaper”. The last gasp of National Herald, Navjivan, and Quami Awaz has been heard. For just Rs 50 lakhs, Rs 5000 crores of property have been obtained.

Ironically, Herald House is built on a kabaristan in Bahadur Shah Zafar Marg to start a newspaper from Delhi. The Mama-son duo know the Biblical saying—from dust to dust.  

Wednesday, November 7, 2012

More on AICC's payment to National Herald

Janata Party President Dr Subramanian Swamy charged ,in a media Conference ,last week that All India Congress Committee (AICC) paid Rs. 90 Crore to a company ,which is violation of ethics for a political party.

Dr Swamy would certainly  take the legal action against the Election Commission's decision to dismiss his plea to de-recognise Congress.

Media is however not silenced as the investigating journalists are coming out with more facts by the day.

The leading business daily Business standard published more details on the transaction from AICC to Young Indian . This is reproduced here:

Did Congress pay Rs 89.5 cr to Sonia and Rahul through Young Indian?
Mother and son own 76% of company which got Associated Journal's shares worth Rs 90 cr for Rs 50 lakh
N Sundaresha Subramanian & Kavita Chowdhury / New Delhi Nov 05, 2012, 00:37 IST ( BUSINESS Standard)

The All India Congress Committee (AICC) has, in effect, paid Rs 89.5 crore to Young Indian, a Section 25 company (meaning a not-for-profit one) controlled by party president Sonia Gandhi and her son, party general secretary Rahul Gandhi.
From the notes of accounts, it appears this sum has effectively given the mother-son duo control over real estate assets running into several hundred crores of rupees.
Sonia and Rahul own 38 per cent each in Young Indian; party seniors Motilal Vora and Oscar Fernandes own 12 per cent each.
  • Associated Journals is a limited company, having shareholders. Motilal Vora, treasurer of the All India Congress Committee, is chairman;
  • Firm is formally in the business of publishing newspapers;
  • AICC had loaned Rs 90 crore to Associated, without interest. When it did so isn’t clear;
  • Young Indian was established as Sec 25 firm on November 23, 2010. Motilal Vora is also a board member of Young Indian, holding 12%
  • Associated’s board approved assignment of loan given by AICC on December 12, less than a month after Young Indian was registered, and by shareholders on January 21, 2011, a month after board approval and two months after Young India was incorporated;
  • It appears the shareholders, at the same EGM (Jan 21, 2011) had approved allottment of 90.2 million shares at Rs 10/share;
  • Board of AJ allotted 90.2 million shares to Young Indian on Feb 26, 2011. Resolution dated Feb 26 shows shareholders approved transfer of loan, as also issue of shares by extinguishment of loan, on same day;
  • Notes to accounts of Young Indian states objective of Young Indian. This does not include publishing a newspaper. Also, it says AJ is in the process of altering its object to align with the objects of Young Indian;
  • Shares worth Rs 5 lakh issued by Young Indian in 2011-12;
  • AICC accepted compromise for loan at Rs 50 lakh against the Rs 90 crore given, an effective writeoff of Rs 89.5 crore, but it seems AICC was not lucky even to get Rs 50 lakh cash from Young Indian, as latter is shown as having capital of Rs 5 lakh and loans of Rs 1 crore. Was there some benefactor who gave loan of Rs 1 crore or did AICC give loan to Young Indian to help pay off its own loan?
The notes to accounts for the year ended March 31, 2012, filed by Young Indian auditor Pradeep Shah and signed by directors Suman Dubey and Motilal Vora this April, give some clues on the actual structure of the transaction. “In pursuit of its objects, the company has acquired loan owed of Rs 90,21,68,980 by the Associated Journals, presently engaged in achieving a recast of its activities so as to have its main object congruent to the main object of the company, for a consideration of Rs 50 lakh,” the note said.
Thus, this transaction effectively has the effect of cleaning up the books of The Associated Journals (publishers of the now defunct National Herald daily, founded by Jawaharlal Nehru), wherein the entire liability is taken over by Young Indian.
When asked, party general secretary Janardan Dwivedi (also the party spokesman) said, “Congress gave a loan to revive National Herald; it was launched in the fight against the British. It was the nation’s paper. The loan was not given to earn profit. Reviving the paper was an emotional issue for the Congress.”
Explaining the second and crucial leg of the transaction, the note added, “As part of the restructuring exercise of the said company (Associated Journals), the said loan was converted into 9,02,16,898 ordinary shares of Rs 10 each, fully paid up.”
Thus, effectively, Young Indian got shares worth Rs 90.2 crore by paying a meagre Rs 50 lakh.
By virtue of this shareholding, Associated Journals becomes a subsidiary of Young Indian.
The liabilities were paid out as an “interest-free loan” from the AICC.
On Sunday, Dwivedi claimed 700 employees had got their pay arrears due to the loan. By Janata Party president Subramanian Swamy’s estimates, even a firesale of Associated’s real estate assets would have covered the Rs 90 crore liability in the books several times over, settled all employees and still have given the shareholders of Associated handsome returns.
But, the directors of Associated thought it fit to use these resources for development of the objects of Young Indian.
Dwivedi’s reiterated defence on the “interest-free loan” to Associated Journals was: “It is an emotional issue for us...only Congress will decide what is political activity for it and no other party.”
While helping employees and getting emotional is permissible, the accounting treatment of the transactions is a little unusual, said experts. Ideally, both the liability acquired and the value of the shares would reflect in the books of Young Indian. This treatment is a bit different.
The books of Young Indian show the 90.2 million shares it owns in Associated Journals under the investments column. But it does not show any value against this. There is just a dash in the value column.
The notes to accounts explains this treatment as follows: “Since the said acquisition is treated as application on the objects of the company(and accordingly, treated in the financial statements of the company), the same has not been as an investment in shares.”
The note goes on to add: “Besides, even if these shares were to be treated as an asset (investment), having regard to the fact that the net worth of the said company is negative, recognising the entire cost as diminution in value would result in an equivalent charge in income and expenditure account.”
Elsewhere, the note says, “Any outflow designed to fulfill the objects of the company, whether or not represented by an asset, is treated as application on the objects of the company.”
What are these “objects” of Young Indian that the notes refers to again and again? There is an answer to this, too.
“The company is engaged in activities to inculcate in the mind of India’s youth commitment to the ideal of a democratic and secular society and provides for application of its profits or income in pursuit thereof.”
But somehow the objects skips the original object of Associated Journals — that of publishing newspapers. Was that intentional? Or was it just an emotional slip?
What’s a Section 25 company?
A Section 25 company is a not-for-profit entity registered with a specific objective. These are companies formed with the only purpose of promoting commerce, art, science, religion, charity or any other useful objective.
The ministry of corporate affairs’ website maintains a list of Section 25 companies, which at present are estimated at 3,350.
A Section 25 company has to be granted a licence by the Registrar of Companies. It does not have to pay any dividend to its shareholders. Any surplus from its operations is ploughed back into the company and deployed towards achievement of stated objectives.
Some of the common Section 25 companies are non-government organisations (NGOs) and entities engaged in CSR activities.
Section 25 companies cannot be listed on exchanges, as there is no profit or dividend.
Section 25 companies also enjoy several exemptions. Unlike the minimum capital requirement of Rs 1 lakh for private companies and Rs 5 lakh for public companies, a Section 25 company does not have to meet any minimum capital requirement. It also pays lower registration fees. Nor does it pay stamp duty and a company can be a member of a Section 25 company.
Section 25 companies are also exempted either fully or partially from the requirement of voting methods for resolutions, retirement of directors by rotation and government approval for increasing the number of directors beyond12.
Such companies cannot obtain foreign contributions without seeking a certificate of registration under the Foreign Contribution (Regulation) Act (FCRA) from the Home Ministry. They are required to use foreign contributions only for the purpose for which they are received. Norms for foreign investment in Section 25 companies are governed under the Foreign Exchange Management Act and FCRA.
The income of a Section 25 company is taxable and it generally enjoys all the advantages of a limited company under the Companies Act

(This article is reproduced from BUSINESS Standard)