National Herald case in a Nutshell
National Herald (NH) was started during 1930s by nehru and was publishing news paper.
During the course of time it accumulated land and wealth of 5000crs.
In 2000s it went into loss and had 90crs debt.
NH’s directors Sonia ,Rahul, and Motilal Vohra decided to sell it to Young India Ltd.
Now the funny part.
Young India’s directors were Sonia, Rahul, Oscar Fernandes and Motilal Vohra .
Deal was that young India would clear NH’s 90cr loan and in return get assets worth 5000 cr.
To strike this deal Motilal Vohra spoke to Motilal Vohra because he was director of both companies.
Now comes the twist.
To clear the 90 cr debt, young Indian, asks Congress party to give loan of 90 cr
So congress calls a meeting , party president, VP, gen sec, treasurer attends it.
Who are these people???
- Motilal Vohra
Congress gives loan.
Who approves it, treasurer, Motilal Vohra.
So congress treasurer Vohra, gives loan to Young India, its Director Vohra takes it and gives it to NH Director Vohra.
Hold on the fun doesn’t stop here
Next day congress party calls meeting, who attends it ??
Sonia, Rahul, Oscar, Vohra . they decide that NH has done lot of service to the country during freedom fight, let’s write off the loan.
So 90cr loan is written off. Great.
Young India with 38% share held be sonia and Rahul each , rest owned by Oscar and Vohra gets property worth 5000cr, including 11 stories flat at bahadur shah zafar marg in Delhi, which is rented out to passport office and other offices.
Wow this is what is called creation.
Creating everything out of nothing.
5000crs out of thin air!!!!
Watch Swamy Explaining It In Common Man’s Language!