NATIONAL HERALD
Case in a nut shell
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National herald (NH) was started during 1930s by Nehru and was publishing a newspaper.
During the course of its operations n as time passed by,
It accumulated land and wealth close to 2000 Cr .
In 2000s it went into a loss and had 90cr debt.
NH's directors
Sonia,
Rahul,
Motilal Vohra
decided to sell it to
Young Indian Ltd.
Now the funny part..
Young Indian's directors were
Sonia,
Rahul,
Oscar Fernandes,
Motilal vohra.
Deal was that Young Indian would clear NH's 90cr loan and in return get assets worth 2000 cr.
To strike this deal Motilal Vohra
Spoke to
Motilal Vohra
bcoz 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 Secy,
Treasurer
Attend it.
Who are these ppl ??
Sonia,
Rahul,
Oscar Fernandes,
Motilal Vohra Respectively.
Congress gives loan.
Who approves it?
The treasurer,
Motilal vohra.
So Congress treasurer
Vohra,
Gives loan to
Young Indian,
Its director
Vohra
Takes it..
And giv 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 struggle,
Let's write off the loan.
So 90cr loan is written off..
Great.
Young Indian with
38% shares held by
Sonia and Rahul each,
rest owned by
Oscar and Vohra bought for 50lakhs
Get property worth 2000cr,
Including 11 storeyed flat
At Bahadur Shah Zafar marg in Delhi,
Which is rented out to passport office l
And other MNC offices
Earning a monthly rent of approx 60 lakhs.
Wow, this is what is called creation.
Creating everything out of nothing.
2000cr out of thin air!!!!