Associated Journals Ltd also made not for profit company: Abhishek Singhvi

LUCKNOW|NEW DELHI: On the eve of Congress leaders Sonia Gandhi, Rahul Gandhi and some others appearing in a court in Delhi in connection with the national Herald case, the Associated Journals Ltd, the publisher of the National Herald, has issued an Advertisements in newspapers calling for an Extraordinary General Meeting to convert AJL into a ‘Not for Profit’ company.

The move, Congress’ lawyer Abhishek Singhvi said, is to double-layer both the companies – AJL and Young India – into nonprofit outfits which can’t sell or transfer any of its assets. Talking to ET Singhvi said, “It is one of the remarkable ironies that when AJL was held by individual shareholders, with no restrictions whatsoever, there was no objection. By making Young Indian a Section 25 company, our intent was to ringfence and keeping with further procedure, we have initiated the process to convert the AJL also into a Section 25/Section 8 nonprofit company. Both these actions are voluntary and selfbuilt protection and not under any external pressure.”