'National Herald not a money making institution'

Submitted by Subeditor on Fri, 2015-12-11 15:51 New Delhi: Congress Rajya Sabha member Oscar Fernandes on Friday said that the National Herald was started to accelerate the freedom movement by Pandit Jawaharlal Nehru and to send a message to the people and was never a money making institution. “Was National Herald a business institution? During the freedom struggle, people were writing by hand and circulating newspapers. Pandit ji started this to accelerate the freedom movement, to give a message to the people. This was not a money making institution. This was for the country and the people,” Fernandes told the media here. “If one can't distinguish between a national cause and a political cause, or a business cause, then, I think, we are sorry,” he added. Nehru established The National Herald newspaper in 1938. It was published by The Associated Journals Limited (AJL), which are typically formed to promote commerce, art, science, religion, or for charity, and are generally not-for-profit entities. Young Indian Pvt Ltd was incorporated as a Section 25 company on November 23, 2010, with Gandhi family loyalists Suman Dubey and Satyan Gangaram (Sam) Pitroda as directors. On December 13, 2010, Rahul Gandhi was appointed a director of Young Indian. On January 22, 2011, Sonia Gandhi joined the board as a director. Motilal Vora and Fernandes too were appointed to the Young Indian board on the same day. Sonia Gandhi and Rahul Gandhi have individual shareholdings of 38 per cent each in the company. Vora and Fernandes hold the remaining 24 per cent in equal parts. (ANI)