New Delhi. Congress President Sonia Gandhi and her son Rahul Gandhi have been called for questioning by the Enforcement Directorate (ED). Let us tell you today that what is this whole matter and why are Sonia and Rahul Gandhi facing legal action in this matter-
In 1938 Jawaharlal Nehru formed Associated Journals Limited AJL Company.
There were shares of 5000 freedom fighters in this company.
The company brought out National Herald, Navjeevan and Qaumi Awaaz newspapers.
The company has properties in prime locations in Delhi, Mumbai, Panchkula, Lucknow and Patna.
AJL stopped publishing newspapers in the year 2008 due to poor financial condition.
In the year 2010, the company had 1057 share holders.
In 2010, the newly formed Young Indian Limited, YIL, bought AJL.
YIL had Rs 5 lakh then. Sonia, Rahul, Priyanka, Motilal Vora and Oscar Fernandes were the shareholders in the company.
Shareholders alleged that without asking them, YIL acquired 99 per cent of AJL’s shares.
In the year 2012, BJP leader Subramanian Swamy filed an application in the Delhi High Court in this matter.
Swamy alleged that YIL gave only 50 lakhs and got the right to recover AJL’s loan of 90 crores and also seized assets worth 2000 crores.
According to the ED, YIL got a loan of 1 crore from a Kolkata-based fake ie shell company.
From this 1 crore, YIL took AJL’s shares by giving 50 lakhs to Congress. ED says that now YIL has assets worth 800 crores.
YIL was exempted from Income Tax on 29th March 2011 on the application of 9th May.
YIL was exempted from tax from the year 2010-11, then the company was not even formed.