Swamy accuses Sonia Gandhi, Rahul of Rs. 1,600 cr fraud.

published on November 1, 2012

Janta Party president Subramanian Swamy on Thursday accused UPA president Sonia Gandhi and her son Rahul Gandhi of converting a public trust into a private property. He also alleged that the two acquired a Rs. 1600 crore estate called ‘Herald House’ owned by associated journals ltd, for just Rs. 50 lakh.

Explaining his allegation Swamy said Sonia Gandhi and Rahul floated a Sec 25 private company ( non-profit company which does not pay dividend) called Young Indian and acquired Associated Journals ltd., which is the owner of National Herald and Quami Awaz newspaper and its real estate properties in Delhi and UP. Swamy said that the deal is a fraud and done with the intention to grab Herald House in Delhi, which is valued at about Rs. 1600 cr. He also called for a CBI probe into the fraud.

Swamy made these allegations at a press conference in New Delhi.  Swamy alleged the Rahul and Sonia had a 76% stake in a private company ‘Young Indian’, which was used to take over Associated Journals and acquire Herald House.

He accused Rahul, a Congress general secretary, of not disclosing about his shares in Young Indian in his affidavit to the Election Commission while filing his nomination papers for the 2008 Lok Sabha elections.

Swamy alleged the Congress party had given loans to Young Indian, which is in complete contravention of the income tax law. He also claimed that he had evidence that the company’s meetings were held at 10 Janpath, Sonia’s official residence in Delhi.

“The deal (Young Indian) is a sham, bogus, and a violation of several laws. It is a fraud committed in order to grab the Herald House in Delhi, that is located in a hub and which is valued at about Rs. 1600 crores,” he said.

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