National Herald Case: HC Asks Young Indian to Deposit Rs 10 Cr
Congress President Rahul Gandhi and his mother Sonia Gandhi are the major stakeholders in Young Indian firm.
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The Delhi High Court, on Monday, 19 March, directed Young Indian Pvt Ltd (YI), whose major stakeholders are Congress President Rahul Gandhi and his mother Sonia Gandhi, to deposit Rs 10 crore in the Rs 249.15 crore income tax proceedings against the firm.
A bench of Justices S Ravindra Bhat and AK Chawla asked the company to deposit half the amount with the Income Tax Department before 31 March and the remaining by 15 April.
The high court directed the I-T department not to enforce the demand of Rs 249.15 crore. The court listed the matter for 24 April for further hearing seeking response from I-T department on the plea.
The company requested the court to stay the recovery of tax and interest of Rs 249.15 crore raised in pursuance to a 27 December notice issued under section 156 of the I-T Act for the assessment year 2011-12.
Bharatiya Janata Party (BJP) leader Subramanian Swamy had filed a complaint about "cheating" in the acquisition of Associated Journals Limited (AJL), which published the National Herald newspaper, by Young Indian, "a firm in which Sonia and Rahul Gandhi each own a 38 percent stake".
Swamy had accused them of allegedly conspiring to cheat and misappropriate funds by just paying Rs 50 lakh, by which Young Indian Pvt Ltd obtained the right to recover Rs 90.25 crore which AJL owed to the Congress.
Former Congress President Sonia Gandhi and her son Rahul Gandhi, party leaders Motilal Vora, Oscar Fernandes, Suman Dubey, Sam Pitroda and Young Indian are accused in the case.
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