Saturday, December 12, 2015

Zero Loss Theory Of Kapil Sibbal

I request all leaders of Congress Party and followers of Rahul Gandhi and Sonia Gandhi to ponder over the recent activities of the party and assess from core of their heart whether the party is really doing good for the country or just saving their image or for getting relief in High Court in National Herald case, Rahul And Sonia are using Parliament to defame Modi government and under a conspiracy putting hurdles in passing of important bills.

I do agree that during UPA rule , opponents of Congress Party disturbed Parliament , but their intention was to punish corrupt leaders who were involved in 2G scam, CWG scam or Coal scam. This time Congress Party is disturbing to get rid of their own scam, own corruption and to get rid of their consequence of their evil work.

I request them all to Open their eyes and ears, apply your talent and then judge whether it is wrong to say that Congress party looted or allowed loot of this country more than what British East India company did in this country. When thieves complete the act of stealing, they start crying that they have been looted and they start crying , "catch catch catch , thieves are running away".

Similarly leaders of Congress Party after looting this country for ears and decades , are now crying of intolerance or advocating zero loss theory in their corrupt act exposed by various Constitutional and judicial authorities. They are willingly putting hurdles in the path of Modi so that his popularity and his growth work may be tarnished and they may recapture power in coming election. I think they are wondering in dreamland.

Leaders of Congress Party are now concocting false stories to defame Modi government which is working hard to make India a super power. They are disturbing Parliament to take revenge of court order. They say that they are innocent in National Herald case but instead of proving their innocence in court of law they are making lame excuses to delay and non passing of important bills in Parliament.

Are they national or anti- national ? People have to decide.

Are they selfish and corrupt ? People will decide in next election.

Are the hatching conspiracy to malign a good and hard working Prime Minister? People will decide in next election.

Our Prime Minister Mr. Modi is working or simply a Feku as alleged by opponents of Mr. Modi will be decided by voters of this country in next election.

But People have to shed their emotions attached with 100 year old party and judge the current reality of leaders of Congress party. Due to undisciplined behaviour of Congress party ,Parliament has become a laughing stock and mud slinging ground. Outcome of uncivilised scene created by opposing Congress Party in Parliament during last few days and months, even top world leaders and foreign media laugh at Indian leaders and Indian style of functioning in Parliament. Our country is losing credibility in foreign community.

Growth plan visualised by current and constitutionally elected government are getting delayed, common men are sufferer, industries are suffering, banks which have lent crores and crore of rupees to businessmen are suffering because due to non-completion of project or non passing of land bill , they are unable to repay the dues in time . 

Not only this , use of Parliament to question a High Court order is by no means a reasonable act of Congress Party.

Whenever Corruption of leaders of congress party got exposed, some of their leaders came out with zero loss theory.

When 2G scam was exposed and CAG alleged that there was a loss of Rs.176000 crore to our country, Kapil Sibbal , the then law minister told the nation that there was actually no loss to country. But later court proved how country was cheated and how much more country lost in 2G case.

Similarly Kapil Sibbal pleaded that country suffered no loss in Coal scam but later court proved that the nation has incurred huge loss to the country and many of leaders have been prosecuted and some of them even put in jail . Later Modi government earned lacs of crores of rupees for India by carrying out transparent auction of coal mines which were declared free by court of law and where mining license issued by UPA government was held illegal and unreasonable.

This time again , incidentally the same Kapil Sibbal , so called legal expert in Congress Party and authorised advocate to defend National Herald case in court of law has come out with a Zero loss theory and tried to tell the Nation that in National Herald case , Sonia Gandhi and Rahul Gandhi has not got any personal benefit and these two Gandhis have caused no loss to the country. He has not told why it became inevitable for Congress Party to construct a new company called as Young India and why was it considered necessary for them to transfer the ownership to this newly formed company.

Why Congress Party did not think it wise to directly help National Herald in coming out of financial crisis?

Was it a legal act on the part of a national political party to give loan to a professional company and then write it off immediately?

Why did the party not give money directly to National Herald company AJL ?

What was the need of giving shares of newly formed company to Sonia Gandhi and Rahul Gandhi knowing very well that the new company was formed , constructed and financed by fund of a political party which get Income Tax relief only because it is a political party , not because it is a profession or business entity doing business of press?

Kapil Sibbal has not told where the rent earned by National Herald property is going and who are the beneficiaries of the same ?

And if Kapil Sibbal has got solid facts and documents to support his Zero loss theory, why did he fail to convince the same to Delhi High Court and why High court found that there is a criminal intent ?

And last but not the least , why Kapil Sibbal and his party thought it fit to disturb Parliament on a judicial order?

What is harm in it if Sonia Gandhi and Rahul Gandhi is summoned by trial court to appear in person?

This is the beauty of our judiciary , it gave full time and heard at length even to Kasab who was charged of terrorism and whose terror act was witnessed by entire country. Even hard core terrorists are given full time to defend them in court of law. This is beauty of our judiciary that even help of legal experts is provided to poor defendant who are not in a position to afford legal cost and cost of advocates. There are many organisations in our country which provide free legal consultation and help to poor but victim of law.

Congress Party can also seek legal help and take the help of top most advocates of the country to prove that National Herald case filed by Mr. Subramanium Swami in Delhi Court is a political vendetta or it is at behest of Modi government or there is no merit in the case , Court will hear them and if found merit, they all including Sonia Gandhi and Rahul Gandhi will be exonerated by learned court.

Zero loss theory of Kail Sibbal is not enough to prove that the alleged criminals are not criminals or there is no commission of illegal act, or there is full compliance of existing laws related to companies, Income Tax act, transfer of properties act etc. Zero loss theory is not enough to prove that alleged Gandhis are innocent and there is act of criminality involved in National Herald case .Even a rapist cause no loss to victim woman or to anyone, it does not mean that the act of rape committed by any rapist can be held reasonable or justifiable in court of law.

It is open secret that weak persons cry loudly to conceal their weakness , criminals cry more loudly against crime so that they may not be trapped by police and similarly weak politicians cry loudly to hide their evil work. If Rahul Gandhi and Sonia Gandhi are absolutely innocent , then instead of crying in Parliament or on roads ,they should  prove the same in court of law and plead before court to punish petitioner and pray for compensation for causing mental agony and for legal expenses incurred by them in defence.

I am unable to understand why after all Mr. Rahul Gandhi and Sonia Gandhi are ashamed and feel disgraceful in attending trail court in response to summon issued by the court. After all, the have not been proved guilty till date. They have simply been summoned to present their case . Why do they fear facing in court when they are innocent and they have caused to loss or gained nothing in National Herald case.

There are many instances when even heads of country had to appear before court in the world. Bill Clinton being President of USA had to face trail in sex abuse case . Many of Chief Ministers and ministers in our country have face court trial. Even current PM Mr. Modi had to face CBI trial, police interrogation and special court trial many times for many days in person.
None of them ever tried and neither did their parties tried to raise the issue in Parliament.

After all, Parliament is meant to discuss , debate and finally make laws for the benefit of common men, for maintaining public harmony and peace and for growth of the country , but not at all to discuss a personal case under hearing in any court.

Is National Herald Case a Political Vendetta only?

Also read

National Herald Case – Sequence of Events
-Submitted by  pannvalan
  1. National Herald newspaper was started in 1937.
  2. It was owned by Associated Journals Limited (AJL), a public limited company.
  3. Publication of this newspaper was stopped in 2008, due to financial constraints.
  4. At this point, Congress Party extends ‘interest free’ loan of Rs.90 crores to AJL.
  5. This amount was utilized by AJL, to clear the outstanding debts and it becomes a ‘Zero Debt Company’.
  6. But, the company is unable to repay the debt of Rs.90 crores taken from Congress.  
  7. In the meantime, a non-profit making company ‘Young Indian Limited’ (YIL) was started in 2010.
  8. In this company, Sonia Gandhi and Rahul Gandhi hold a share of 38% each. The balance shareholding of 24% is held by other congress office bearers and those who are loyal to Gandhi family.
  9. Congress Party assigns the debt of Rs.90 crores of AJL to YIL, in exchange for a payment of Rs.50 lakhs.
  10. Now, AJL owes Rs.90 crores to YIL.
  11. AJL converts this debt into equity, by allotting 9 crore shares of Rs.10 each to YIL.
  12. And in the process, all the existing shareholders of AJL are reduced to minority status.
  13. But, all the existing shareholders of AJL were not given notice of conversion of debt into equity and allotment of additional 9 crore shares to YIL.
  14. The Extraordinary General Meeting for this purpose takes place at the government allotted residence of Sonia Gandhi.  With the minority shareholders of AJL, Congress completes the formality of allotment of additional shares.
  15. Consequent on this, YIL becomes the majority shareholder in AJL, as its shareholding touches 99% and AJL eventually becomes a subsidiary of YIL.
  16. Now, hold your breath. Congress Party writes off the debt of Rs.90 crores in the name of AJL in its books.
  17. Thus, YIL acquires all the assets in the name of AJL.  
  18. The present market value of immovable properties of AJL is said to be Rs.5,000 crores.
  19. Thus, by paying a mere Rs.50 lakhs, YIL has usurped the properties worth Rs.5,000 crores which rightfully belonged the shareholders of AJL on its rolls before November, 2010.
  20. The shareholders of AJL do not receive any compensation, because technically speaking AJL was not liquidated so that its assets could be sold and amount distributed to its shareholders.
  21. Rahul Gandhi in his interview to Pioneer magazine has openly admitted that Congress has no intention of reviving National Harold.
Issues raised now
  1. Congress party which mobilizes most of its funds through donations from the public, shall not lend a huge amount of Rs.90 crores to a commercial entity, because all its receipts are exempt from Income Tax.
  2. Both AJL and YIL are controlled by Gandhi family and those who are close to them, with 4 persons remaining directors of both the companies.
  3. Rahul Gandhi did not declare his 38% shareholding in YIL in his election affidavit (no information is available with regard to Sonia Gandhi’s election affidavit).
  4. While allotting fresh shares to YIL, AJL did not intimate all its shareholders and obtain their consent.
  5. By paying a mere Rs.50 lakhs, YIL has become owner of properties worth Rs.5,000 crores through illegal means.
  6. YIL which is now a ‘Non Profit Making Company’ under Sec. 25 of Companies Act may become a commercial enterprise under Sec.8 of the Act any time in future and there is no legal restraint whatsoever.
  7. Thus, the properties worth Rs.5,000 crores were acquired fraudulently by one family, with the help of persons loyal to it.

Date: 12-12-2015                                                                                                                                          pannvalan

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