Indian National Congress [INC] Alleges B J P Leader Hiding The Facts In The Court Of Law
Congress Spokesperson Randeep Surjewala has stated that Some leaders would go to any extent to be in the news, even hide facts and Mr Subramanian Swamy is one of them.
To sensationalize an issue.BJP leader had not told the court that the Young Indian was a not-for-profit company and its Directors and Stakeholders can not make any profits.
“Both Mr Subramanian Swamy as also he colleagues in the Bharatiya Janata Party forgot to tell the court that Young Indian is nothing but a not-for-profit company under section 25 of the Companies Act, identical provisions contained in the new Companies Act,” he said.”Principle foundation of a not for profit company and pre-requisite is that none of the directors or share-holders can claim any remuneration, salary or other cash or other emoluments. It is also a pre-requisite that no profit or dividend of any nature can ever be given to any share-holder. It is also a pre-requisite that any income or sources of any not-for-profit company have to be necessarily utilized for the defined objects of the company,” he added.
“May I also point out to you that the defined object of the Young Indian, if I were to contextualize, in a few words, is to ensure preservation of democratic institutions in our democratic polity, ensure preservation and protection of the fundamentals of secularism and ensure the propagation of thought process, ideas and ideals of father of the nation Mahatma Gandhi and founder of Associated Journals Ltd Pandit Jawaharlal Nehru,” he stated.
“Entire set of allegations are blatantly slanderous and need to be rejected with the contempt they deserve,” he said, dismissing the allegations made by Shri Swamy.