Young Indian formed to take over Herald House: Centre

Senior advocate Abhishek Manu Singhvi defended Associated Journals Ltd and denied the allegations.

Published: 12th February 2019 08:48 AM  |   Last Updated: 12th February 2019 08:48 AM   |  A+A-

By Express News Service

NEW DELHI: Young Indian, the company in which Congress president Rahul Gandhi and his mother Sonia Gandhi are shareholders, was formed with the intention of taking over Herald House, the Centre told the Delhi High Court on Monday.

The court is hearing the appeal of Associated Journals Ltd (AJL), which publishes National Herald newspaper, challenging the December 21 order of a judge dismissing its plea against the urban development ministry’s October 30 direction that AJL’s 56-year-old lease on Herald House was over and it should vacate the building.

The judge had noted that by the transfer of 99 per cent of AJL’s shares to Young Indian, the beneficial interest of AJL’s property, worth Rs 413.40 crore, had been clandestinely transferred to Young Indian.

Solicitor General Tushar Mehta told a division bench of Chief Justice Rajendra Menon and Justice V. Kameswar Rao that AJL had “clandestinely” transferred its majority shares to Young Indian and requested the court to dismiss AJL’s appeal.

Senior advocate Abhishek Manu Singhvi defended Associated Journals Ltd and denied the allegations.
The court scheduled the next hearing for February 18.

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