Congress releases FAQs to rebut Jaitley allegations

While putting the record straight on the National Herald issue, the Congress said Mrs Sonia Gandhi and Mr Rahul Gandhi have not benefited financially from Young Indian or assets of AJL as directors or shareholders of Young Indian, a non-profit, Section 25 company, they are prohibited by law from drawing (and have not drawn) any financial benefits from the company.

The party has come out with a FAQ format clarification on its website to rebut allegations by finance minister Arun Jaitley on National Herald issue. While clarifying its stand on this controversial issue under the title of “Frequently Asked Questions on the National Herald case” it said there is no restriction in law on political parties giving loans. In fact, the Election Commission of India issued a clear order in this regard in November 2012. Dr Subramanian Swamy had sought the de-recognition of the Congress on this ground but his complaint was dismissed by a full bench order of the Election Commission.

Countering the government offensive, the party lists 14 questions and answers on this issue and gives details of profit and losses of The Associated Journals Ltd (AJL) from 2008-09 to 20014-15. In response to a question whether Mr Arun Jaitley calling Young Indian a real estate company is true, the party responded: “Absolutely false. YI does not own a single real estate asset or immovable property. AJL (The Associated Journals Ltd) continues to own all its assets. The allegation is, therefore, completely baseless.”

On whether any assets have been transferred from The Associated Journals Ltd. (AJL) to Young Indian (YI), the party said, “No. All the assets and the income of AJL remain with the company. Not a single paisa has gone to YI, YI Directors or YI Shareholders”.