National Herald Scam - would make scamsters blush with shame

[pothead]

Ok folks, want to know about national Herald scam?

Come on, don't be shy, this is perhaps the most unique scam in the history of the world. Unlike any other. Still not quipped?

hmm...

The Year is 2008, The year of greatest Indian Scamster in ScamMohan Singh lording us as PM.

then let us introduce the players, shall we?


1) AJL (Associated Journals Limited) which runs National Herald
Motilal Vohra - director

2) Congress Party (we all know what these perverts are)
Motilal Vohra - treasurer
Italian bar stripper - President

3) Young India Limited
Motilal Vohra - director
Pappu & Italian bar stripper owners with 76% share

Now, Motilal Vohra led National Herald goes belly up in 2008 but it has incredibly worthy assets, running into thousands of crores.
As director Of NH, Motilal Vohra spend sleepless nights trying to save NH, after all he is a concerned director.

Here are the incredible steps Motilal Vohra took to save National Herald.

1) As a concerned director, Motilal Vohra, director of NH, requests Motilal Vohra, director of Young India to help bail out National Herald.

2) Motilal Vohra, director of Yound India ltd did not have money to bail out National Herald, hence he approached Motilal Vohra, Treasurer of Congress party to loan the amount of 90 crores.

3) Now Motilal Vohra, Treasurer of Congress party faced an incredible dilemma. Should he give loan of 90 crores to Motilal Vohra, director of Young India or not? After weeks of hard thinking (let's presume, shall we) Motilal Vohra gives himself loan of 90 crores.

4) Next Motilal Vohra, director of Young India, approaches Motilal Vohra, director of National Herald with an offer he can't refuse. Transfer all AJL shares at 10 Rs each for 90 crores. Motilal Vohra, director of National Herald, after incredible deliberations agrees to the proposal of Motilal Vohra, director of Young India.

5) Here comes another incredible part. Since National Herald did not have 9 core shares, Motilal Vohra, director of National Herald creates 9 crores new shares to transfer to Motilal Vohra, director of Young India.

6) Voila, Pappu & the Italian bar stripper, using Young India now own 99% national nerald with real estate running into thousands of crores.

Did Ya all think it's over? Not by far.
Now comes the most incredible part.

1) Remember how Motilal Vohra, treasurer of Congress gave 90 crores to Motilal Vohra, director of Young India? Yeah, recall it dudes. Motilal Vohra, director of Young India gives back just 50 Lakhs to Motilal Vohra, treasurer of Congress.

2)Then Motilal Vohra, director of Young India, requests Motilal Vohra, treasurer of Congress to write off the rest of 89.5 crore loan.

3 Motilal Vohra, treasurer of Congress, then takes this excruciatingly painful (don't smirk, let's assume, OK ) of writing off the loan of 89.5 crores and informs Motilal Vohra, director of Young India - who understandably is overjoyed.

SO FOLKS, with just 50 Lakh rupees, Pappu & the Italian bar stripper got prime real estate across India running into thousands of crores.

What was ScamMohan Singh doing?
Presumably clapping and counting the loot.

 

[pothead]

Before National Herald there was Maruti -

https://dynastycrooks.wordpress.com...rdinary-crony-capitalism-under-indira-gandhi/

Every kid growing up in India knows that the ‘Nehru-Gandhi’ name is associated to a lot of things. Buildings, roads, streets, parks, airports, everything…

If you want to spend anywhere between 20-30 years as a “college student”, you can always go to Jawaharlal Nehru University (JNU). If you are the type who prefers to learn on his own time, there is always Indira Gandhi National Open University(IGNOU). If you are not the bookish type and want to excel in sports, you can always dream of winning the Rajiv Gandhi Khel Ratna award someday!

But a lot of people don’t know just how deep the Nehru-Gandhi name runs in India. This is the story of an Indian brand name that we all know about Maruti … and the dark crony capitalist history behind it.

The story begins around 1970. The Indian Government and the Indian public were beginning to think about an indigenous car. It had to be a small car, suited to Indian conditions and something that the “upper middle class” could afford to pay. Which was not a lot, after 200 years of British and 20 years of Congress rule.

For India the breakthrough was to come with the arrival of a dynamic young inventor, whose project Prime Minister Indira Gandhi described in theseglowing terms:

” a delicate young man, and with whatever money and energy he has, he has modelled a car, not a posh one, but one fairly comfortable and suitable to Indian conditions … has shown enterprise and I just could not say no to him … if he is not encouraged how can I ask other young men to take risks”

Which young man is she talking about? Her son Sanjay Gandhi of course. How could she say no to him?

Like so many great visionaries and inventors, Sanjay never went to college. But it was said that he loved cars and he had a mother who “could not say no to him.” Just like all those other visionaries we’ve heard about.

In 1970, Maruti received a license to produce 50,000 cars a year and the project began. Sanjay settled on a piece of land near Gurgaon for the factory, at which point two minor problems presented themselves. The first was that it was agricultural land. This was quickly solved. I am sure the farmers received a fair compensation for their land.

The second minor problem was that there was a military ammunition dump nearbly and there was a rule about not building anything within a kilometer of that. This problem was solved as well … by getting the military to move the ammunition dump.

Getting money for the project was no problem at all. Government contractors and traders were lining up to invest in the mission. In fact, traders came forward and paid Rs 3 lakh as deposit each to become future dealers as and when the car would be ready. Like Indira Gandhi, perhaps they too just could not say no to Sanjay.

So far, so good. But there was still the tiny matter of actually making a car that works.

After several years of waiting, Maruti built a prototype, which was sent for testing to the Vehicle Research & Development Establishment, Ahmednagar.

The prototype failed the test.

At this point, some of those people who had deposited money with Maruti wanted a refund. But there was a simple procedure to deal with such situations (see this India Today issue from 1977).

That’s right. The process of ‘Deposit Wapsi’ is much more complex than Award Wapsi.

Nevertheless, the criticism was beginning to pile up and reached a crescendo in mid-1975.

Did I say mid-1975? Yes, I did. On June 25, 1975, Prime Minister Indira Gandhi declared a state of Emergency.

Everyone who ever made a great invention has faced doubters. So did Sanjay. Just that he had a much more effective way of putting those doubts to rest.

We don’t talk much about the Emergency today. But even when we do, we speak of the Emergency as a purely political exercise. We rarely talk about the financial interests that might have been involved.

Here’s the key. Sanjay was only a director in Maruti, where his total financial stake was just one share he had purchased for Rs 100.

However, there was a second company called Maruti Technical Services (MTS) Pvt Limited. Let’s see who owned that:

So Maruti Limited decided to appoint Maruti Technical Services (owned by the family) as a “consultant”.

Maruti Technical Services (MTS) was to receive two percent of the net sales, subject to a *minimum* of Rs 2.5 lakh per year.

Notice that MTS had a paid up capital of just Rs 2.15 lakh and the company would be making a *minimum* of Rs 2.5 lakh per year. Good return on investment, you bet.

Sanjay Gandhi may have had a fascination for cars, but his real talent lay in financial matters.

Eventually, after the Janata govt came to power, the loss making Maruti Ltd. was liquidated. But this did not affect the profits that the Nehru-Gandhis earned through Maruti Technical Services.

The ‘Maruti’ that we know today was restarted in 1980 with help from Japan’s Suzuki.

Even so, the dark taint of cronyism will forever cling to the name of one of India’s best known companies.

@Soumitra @Jackdaws @Tom M @Nityam @IndoCarib @Roybot @911 @Nilgiri

 

[Roybot]

If you guys ever wondered, who is this old guy always following Sonia and RahulGandhi around like a meek little puppy, that's Motilal Vohra and now you know why.

 

[pothead]

If you guys ever wondered, who is this old guy always following Sonia and RahulGandhi around like a meek little puppy, that's Motilal Vohra and now you know why.

The right on the right side in the pic is perhaps the most diabolical of Congress men.
This guy should be dealt with in such a way that a strong message.

 

[IndoCarib]

If you guys ever wondered, who is this old guy always following Sonia and RahulGandhi around like a meek little puppy, that's Motilal Vohra and now you know why.

you think Vohra could be their president candidate ? Oh No! Not PM