Who’s who of Congress in Associated Journals shareholder list

New Delhi, June 15 (IANS): Jyotsna Suri and the late Lalit Suri each own 50,000 shares of Associated Journals, making the National Herald of the Congress party stand out.

The Young Indian is the major shareholder of Associated Journals. Harbans Lal Malhotra and Sons hold 16,000 shares while Rameshwar Thakur holds 26,510 shares.

Scindia Investment and Mohan Meakin each hold 5,000 shares. Others include a mix of past and present Congress leaders or those who have been close to the Gandhi family.

Some of the shareholders include Dr. KN Katju, Vijay Darda, Sushmita Dev, Manickam Tagore, Syed Sibte Razi, Suman Dubey, Sam Pitroda, Oscar Fernandes, Motilal Vora, JB Dadachandji, HY Sharada Prasad, Ghulam Nabi Azad, Sucheta Kripalani, Sheila Dikshit among others.

Pawan Kumar Bansal is President and CEO of Associated Journals.

The Enforcement Directorate interviewed Rahul Gandhi at his office in the nation’s capital.

He had summoned Rahul Gandhi and party leader Sonia Gandhi in connection with the National Herald case for allegedly embezzling funds. Sonia Gandhi was summoned to appear before the financial polling agency on June 23.

The genesis of the controversy began with the acquisition of shares of Associated Journals Ltd (AJL) on January 26, 2011. AJL was incorporated as a limited company on November 20, 1937 under the Indian Companies Act, 1913 , for the purpose of publishing newspapers in different languages.

AJL started publishing newspapers such as National Herald in English, Navjivan in Hindi and Quami Awaz in Urdu. Publication of the newspaper has been suspended several times due to financial difficulties and some labor issues. On April 2, 2008, the newspaper was closed.

The properties were allocated for carrying out press activities and publishing newspapers in different languages. However, he was also allowed to rent these properties for rent to meet his publishing activities after the newspaper closed.

AJL’s office was relocated from Lucknow to Delhi on 1 September 2010 to its Delhi property located at 5A, Herald House, Bahadurshah Zafar Marg, New Delhi. In this series of events, the All India Congress Committee (AICC), a supreme organ of the Indian National Congress, had from time to time advanced loans to the AJL.

In other words, AICC has assigned AJL’s remaining loan on the books at Rs 50,00,000 to Young Indian. In addition, nearly 99.99% of AJL shares were transferred to Young Indian. On December 13, 2010, at Young Indian’s first board meeting, Rahul Gandhi was appointed director.

In a nutshell, the National Herald case concerns the awarding of a Rs 90 crore loan advanced by Congress to Young Indian for a consideration of Rs 50 lakh. It was alleged that there was a misappropriation of assets of over Rs 2,000 crore.