Manish Tewari Critiques Charge Sheet Against Gandhi: A Political Vendetta Without Legal Basis
Click to start listening
Synopsis
On April 22, Congress MP Manish Tewari condemned the charge sheet from the ED against Sonia and Rahul Gandhi in the National Herald case, labeling it as political vendetta and asserting its lack of legal foundation.
Key Takeaways
- Manish Tewari calls the ED charge sheet politically motivated.
- Claims case lacks any legal merit.
- The Associated Journals Limited faced significant financial troubles.
- Young Indian Ltd was formed to manage debts legally.
- Trial is currently stayed in court.
Chandigarh, April 22 (NationPress) Congress leader and Member of Parliament (MP), Manish Tewari, stated on Tuesday that the charge sheet submitted by the Enforcement Directorate (ED) concerning the National Herald case against Parliamentary Party Chairperson Sonia Gandhi and Leader of Opposition (LoP) Rahul Gandhi represents a blatant act of political vendetta.
Tewari informed the press that the case would inevitably collapse in court as there was no unlawful activity involved.
He explained that The Associated Journals Limited (AJL), established by Pandit Jawaharlal Nehru and other prominent leaders and freedom fighters to publish patriotic newspapers like National Herald, Navjeevan, and Qaumi Awaz, faced significant financial losses, accumulating liabilities of approximately Rs 90 crore.
According to Tewari, as part of standard corporate practice to streamline balance sheets, a new entity named Young Indian Ltd (YIL) was formed.
He emphasized that the Congress party cleared the AJL’s Rs 90 crore debt over a decade and acquired its shares, which were later transferred to Young Indian Ltd through a conventional debt swap.
Tewari, who is also a lawyer, highlighted that converting debt into equity is a common legal practice, as demonstrated in the AJL case.
He drew parallels with Vodafone, whose debt was similarly converted into equity by the Indian government.
Additionally, Tewari mentioned the extensive Rs 16 lakh crore debt waiver extended to numerous corporations by various banks.
Countering claims by the complainant that there was an intention to seize AJL’s properties, he noted that of the six properties owned by AJL, only one is freehold, while five are leasehold and cannot be sold.
Furthermore, Young Indian Ltd, which acquired the shares of AJL, operates as a not-for-profit entity, meaning it cannot distribute dividends to shareholders or pay salaries or perks to directors, according to Tewari.
Interestingly, he pointed out that the trial related to the complaint upon which the ED has based its charge sheet is currently stayed, referring to complainant Subramanian Swamy having obtained a stay from the Delhi High Court.
The former Minister of Information and Broadcasting asserted that the BJP government is aware that there is no substance in the case and that it will not withstand legal examination.
He added that the BJP-led NDA government aims to cultivate a negative perception of Congress leadership among the populace.
