The Delhi High Court on Friday declined to stay the income tax proceedings against Young India Ltd in the National Herald case, which involves Congress leaders Sonia Gandhi and Rahul Gandhi.
A bench of Justices S Muralidhar and Chander Shekhar asked the company to approach the Income Tax assessing officer, after which the firm withdrew its petition. The court then dismissed the plea as it was withdrawn.
Young India had approached the high court seeking a direction to stay the IT proceedings and quashing of notices against it with regard to the National Herald misappropriation of assets case. The company was issued notices regarding the assessment year 2011-12.
In December 2015, Delhi High Court rejected their plea to quash the summons against them in this case. The bench also turned down their plea for exemption from personal appearance in the case in the trial court.
Along with the Gandhis, five other accused -- Suman Dubey, Moti Lal Vohra, Oscar Fernandez, Sam Pitroda and Young India Ltd - had challenged the summons issued to them by a trial court on a complaint by BJP leader Subramanian Swamy against them for alleged cheating and misappropriation of funds in taking control of the now-defunct daily.
Here are 5 things you need to know about the case:
1. The National Herald newspaper was started by Pandit Jawahar Lal Nehru in 1938 during the freedom struggle against British. The newspaper served as one of the mouthpieces of Congress during that time.
2. The alleged case of cheating and misappropriation of funds in taking control of the newspaper was filed by BJP leader Subramanian Swamy against Sonia Gandhi and Rahul Gandhi and others, alleging that they had fraudulently acquired Associated Journal Ltd. (AJL), that used to publish the now defunct National Herald newspaper, and transferred its assets worth crores of rupees to another company, Young Indian.
3. Swamy had accused Sonia and Rahul Gandhi and others of conspiring to cheat and misappropriate funds by paying just Rs 50 lakh by which Young Indian obtained the right to recover Rs 90.25 crore which the Associated Journals Limited had owed to the Congress party.
4. In 2012, Swamy also alleged that Congress president Sonia Gandhi and her son Rahul Gandhi "fraudulently acquired properties of Associated Journals Private Ltd (AJPL) in Delhi, UP and other places worth Rs 1,600 crore."
5. A Delhi court in 2014 summoned asked Congress president Sonia Gandhi and vice-president Rahul Gandhi to appear before the court. Since then the case is sub judice.
(With inputs from PTI)
(Feature image source: PTI)