The Congress has come out with a set of frequently asked questions and put the answers up on its website in an effort to present its side of the story on the National Herald controversy. The party claims that its leaders Sonia Gandhi and her son Rahul Gandhi have not benefitted financially from Young India Limited, the company to which they have been accused of transferring the debt from an interest-free loan.
The party also insisted that it was not against the Election Commission’s rules for them to give out loans. They also claimed that Bharatiya Janata Party leader Subramaniam Swamy’s complaint, which started the controversy, had been dismissed by the EC. The Congress also denied that Young India Limited was created to usurp property from Associated Journals Limited, which used to publish the National Herald newspaper.
In December, the Gandhis were issued summons by a trial court on the basis of Swamy’s complaint. The complaint suggested that the Gandhis provided an interest free loan of of Rs 90.25 crore to Associated Journals Limited, which published the National Herald newspaper, and transferred the debt to a company called Young India Limited for Rs 50 lakh. Sonia and Rahul Gandhi each own a 38% stake in YIL. The next court hearing in the case is scheduled for February 20.
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