Swamy asks EC to de-recognise Congress over Loan Row
TNI Bureau: Janata Party leader Subramanian Swamy has renewed his attack on the Congress Party by moving the Election Commission (EC) over the latest loan row. After Congress admitted to giving Rs 90 croee loan to Associated Journals Limited, Swamy asked the EC to de-recognise the party, saying it was illegal for a political party to do that.
The Congress, which denied all allegations made by Swamy at the first place, later admitted the loan was given to VRS for the employees of Associated Journal aftet the company got sick. The party also contended that the loan was given to revive ‘National Herald’, which was the brain child of former PM Jawaharlal Nehru.
The Congress also said that since Associated Journal is a non-profit organisation, there is no harm in giving loan to it. However, Swamy hit back, saying Congress Party was not a charitable organisation to extend loans and that they can do only political work with the money they collected through funding.
According to Swamy’s allegations, a new company ‘Young Indian’ was formed by Sonia Gandhi and Rahul Gandhi, which later took over the Associated Journals at just Rs 50 lakh.