Thread by @AshishSaradka

Today #RahulGandhi is appearing to face an investigation at the #EnforcementDirectorate in the #NationalHeraldCase! Congress accuses BJP of political vendetta here! But what is the story of national herald?. This thread explains it fully (1/n)

Here is a brief history of the National Herald! It was established in 1938 by Jawaharlal Nehru. The Associated Journals limited (AJL) undertook publication work. Along with National herald, qaumi awaz, an Urdu news paper and Navajeevan a Hindi daily were also published (2/n)

This was banned for 3 years from 1942 to 1945, for opinionating against the British. The paper restarted in 1945 and went on till 2008. One of the key moments was in 1963 when the paper celebrated its 25th year. Nehru had attended the function.(3/n)

He had called the paper, " A nationalistic voice with allegiance to congress principals. Over time, the National herald lost market share, circulation dropped, debt increased. By 2008, the paper was reeling under a debt of 90 crores and shutdown its operations.(4/n)

This is where the story starts. Congress offers a loan of 90 crore to National Herald, and NH takes it. But the paper doesnt start again. (After 2016 they maintain a digital presence). Now in 2010 congress sets up a company called Young India limited. (5/n)

38% of stake is owned by Sonia Gandhi, Another 38% stake is with Rahul Gandhi, 24% is allotted to Oscar Fernandes, Motilal vora and Sam Pitroda. Now the congress also transfers the loan it lent out to National Herald to this company. (6/n)

In simpler terms the loan lent out by Congress ( From its party fund) would now be paid back to Young India (owned by Gandhi's and the three others) . But National Herald doesn't have the money to pay back. (7/n)

According to the accusations landed by Subrahmanyam Swamy, what in turn happened is that Young India bought the assets of Associated Journals Limited and owned the real estate and other assets, and in closing this deal AJL got 50 lacs. (8/n)

In Simpler terms, congress lent 90 crores, transferred the loan to Young India, Young India bought all the assets of AJL when AJL was not able to pay back the debt. Young India Paid AJL 50 lacs for the transaction. But here is the catch. (9/n)

AJL owned assets worth 2000 crores! So Young India spent 50 lacs of its money and 90 crores from the congress party fund to gain control of assets worth 2000 crores! This is why Rahul Gandhi and Sonia are being summoned by ED(10/n)

Congress states nothing like this happened. NH still owns all its assets and Young India is a non-profit organisation and its directors didn't receive any money. Now who is right?? Investigations have to decide!(11/n)

This was the thread. Thanks for reading!

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