In fact, the High Court on December 7 seems to have dismissed the petitions of the Congress leaders in order to give them a fair chance to clear the name of the “legendary national party”.
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Associated Journals Private Limited (AJL), a public limited company with immovable assets, formally closed printing and publication of newspapers like The National Herald, etc, in April 2008. Asked if he would challenge the transfer of AJL shares to YIL, Bhushan said, “Very surely I will challenge it in court”. When asked that why notice has been not send to share holders, he said people who are claiming to be shareholders of National Herald, are not actual shareholders.
Prashant Bhushan, Shanti Bhushan’s son, too confirmed that it was a mistaken claim.
Sonia and Rahul Gandhi were issued summons on Monday to appear before the court, but got temporary reprieve on Tuesday. “The party helped it by giving it loans as and when required, and there was nothing wrong in it”, senior Congress leader Kapil Sibal said.
The All India Congress Committee (AICC) later assigned Young Indian to acquire the debt of AJL. The Congress had, subsequently, alleged “personal vendetta” by the BJP on the Congress leadership. Bhushan had termed the transfer of shares from AJL to YIL was “wholly illegal” and said he will challenge this whole transaction in the court.
Congress leadership has been maintaining that none of the shareholders in AJL, including the significant individual shareholders, had opposed the takeover of AJL by Young Indian.
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“National Herald newspaper has been a part of Congress’ legacy ever since it came into being. After all, the meetings of the AJL has been always duly informed to shareholders in their given addresses”, Sibal said. He also told that Markandey Katju didn’t applied to become shareholder.
