National Herald case: Swamy demands SFIO probe into transfer of shares

December 16, 2015 06:34 pm | Updated November 17, 2021 01:01 am IST - New Delhi

BJP leader Subramanian Swamy on Wednesday demanded an SFIO probe into allegations of shareholders of Associated Journals Ltd (AJL) that they were not consulted before the transfer of the entire equity into Young Indian Pvt Ltd.

Mr. Swamy, whose complaint had led to summoning of Congress president Sonia Gandhi, her son Rahul and two others in the case National Herald case, also sought the takeover of AJL properties in different cities by DDA as they had been “illegally transferred to Young Indian, which rented” them out.

In a letter to the Corporate Affairs Secretary, he alleged that AJL shareholders are “complaining that the transfer of freshly issued shares, which constituted more than 99 per cent of the total shares were carried out without their knowledge or information.”

He cited a media report alleging that AJL chairman Motilal Vora, who is also treasurer of Congress, did not obtain shareholder approval for transferring the company’s entire equity to Young Indian Pvt Ltd (YIL) in December 2010.

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