New Delhi: In a big slap to Sonia Gandhi and Rahul Gandhi, the Delhi High Court on Thursday observed that their company Young Indian acquired National Herald newspaper’s publishing company Associated Journals Limited (AJL) and its huge assets in a clandestine operation. Ratifying the Single Bench’s order, the Division Bench headed by Chief Justice Rajendra Menon and Justice V K Rao ordered the immediate eviction of Herald House, the headquarters of AJL.
The 63-page Judgment detailed the various illegalities, ratifying the December 2018 Judgment of Justice Sunil Gaur ordering the eviction of Herald House by the Urban Development Ministry (UDM). The Division Bench took note of the fact that AJL has been taken over by Young Indian Company for all practical purposes. It said: “This Court is conscious of the fact that Young Indian Company is a charitable company, but modus operandi was to acquire 99% of AJL’s shares speaks volumes. The manner in which it has been done is also questionable.”
The scathing observation by the Division Bench totally vindicates the first criminal case filed BJP leader Subramanian Swamy. AJL was represented by Congress leader and lawyer Abhishek Singhvi and the UDM by Solicitor General Tushar Mehta. In the Judgment, the Court observed that on many occasions, AJL did not answered properly and tried to hide the facts. Upholding the single bench view that the entire transaction of transferring the shares of AJL to Young India was nothing but a clandestine and surreptitious transfer of the lucrative interest in the premises to Young India, the bench observed
“The Judgment observed that with just Rs.50 lakhs, Sonia and Rahul controlled the Young India became the owners of more than Rs.400 crores worth owners of Herald House.”
“Even though Dr. Singhvi had argued that there is nothing wrong in such a transaction and it is legally permissible, but if we take note of the principles and the doctrine for which the theory of lifting of the corporate veil has received legal recognition, we have no hesitation in holding that the entire transaction of transferring the shares of AJL to Young India was nothing but, as held by the learned writ Court, a clandestine and surreptitious transfer of the lucrative interest in the premises to Young India. In fact, the contention of Dr. Singhvi has to be rejected and rightly so was rejected by the Single Judge even though without applying the principle of lifting of the corporate veil. In case the theory of lifting of the corporate veil, as discussed hereinabove, is applied and the transaction viewed by analyzing as to what was the purpose for such a transaction, the so called innocent or legal and permissible transaction as canvassed before us, in our considered view, is not so simple or straight forward as put before us, but it only indicates the dishonest and fraudulent design behind such a transaction as laid down in various judgments.”
In a big slap to Sonia Gandhi and Rahul Gandhi, the Delhi High Court on Thursday observed that their company Young Indian acquired National Herald newspaper’s publishing company Associated Journals Limited (AJL) and its huge assets in a clandestine operation. Ratifying the Single Bench’s order, the Division Bench headed by Chief Justice Rajendra Menon and Justice V K Rao ordered the immediate eviction of Herald House, the headquarters of AJL.
Now as a last resort, Congress lawyers will rush to Supreme Court against the Delhi HC’s Division Bench Judgment.
The 63-page Judgment detailed the various illegalities, ratifying the December 2018 Judgment of Justice Sunil Gaur ordering the eviction of Herald House by the Urban Development Ministry (UDM). The Division Bench took note of the fact that AJL has been taken over by Young Indian Company for all practical purposes. It said: “This Court is conscious of the fact that Young Indian Company is a charitable company, but modus operandi was to acquire 99% of AJL’s shares speaks volumes. The manner in which it has been done is also questionable.”
The scathing observation by the Division Bench totally vindicates the first criminal case filed BJP leader Subramanian Swamy. AJL was represented by Congress leader and lawyer Abhishek Singhvi and the UDM by Solicitor General Tushar Mehta. In the Judgment, the Court observed that on many occasions, AJL did not answered properly and tried to hide the facts. Upholding the single bench view that the entire transaction of transferring the shares of AJL to Young India was nothing but a clandestine and surreptitious transfer of the lucrative interest in the premises to Young India, the bench observed
“The Judgment observed that with just Rs.50 lakhs, Sonia and Rahul controlled the Young India became the owners of more than Rs.400 crores worth owners of Herald House.”
“Even though Dr. Singhvi had argued that there is nothing wrong in such a transaction and it is legally permissible, but if we take note of the principles and the doctrine for which the theory of lifting of the corporate veil has received legal recognition, we have no hesitation in holding that the entire transaction of transferring the shares of AJL to Young India was nothing but, as held by the learned writ Court, a clandestine and surreptitious transfer of the lucrative interest in the premises to Young India. In fact, the contention of Dr. Singhvi has to be rejected and rightly so was rejected by the Single Judge even though without applying the principle of lifting of the corporate veil. In case the theory of lifting of the corporate veil, as discussed hereinabove, is applied and the transaction viewed by analyzing as to what was the purpose for such a transaction, the so called innocent or legal and permissible transaction as canvassed before us, in our considered view, is not so simple or straight forward as put before us, but it only indicates the dishonest and fraudulent design behind such a transaction as laid down in various judgments.”
Now as a last resort, Congress lawyers will rush to Supreme Court against the Delhi HC’s Division Bench Judgment. Already, the final appeal against the Income Tax Order exposing the Rs.413 crores asset-grabbing by Sonia and Rahul is before the Supreme Court. In the main case, the cross-examination of Subramanian Swamy by Congress lawyers is to resume on March 30.
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