A day before the Congress top brass is to appear before a trial court in the National Herald case, the newspaper publishing company Associated Journals limited (AJl) on Friday published advertisements in the media announcing the convening of shareholders’ meeting to change the structure of the company, from a commercial to a non-profit entity.
This move is considered as an attempt to rectify illegalities found by the trial court and Delhi High Court, leading to the summons to Congress president Sonia Gandhi and party vice-president Rahul Gandhi.
The AJl shareholders’ meeting has been convened on January 21 in its lucknow office. The notice of Extraordinary General Meeting (EGM) says the main objective of the meeting was to convert the commercial company into a non-profit company.
It is expected that after this move, the Young Indian, the private company floated by Sonia and Rahul, will be merged with AJl.
The notice further says, the EGM is also convened to change the objects, memorandum and articles of associations of AJl. “The Board of the Company has been considering for more than four years that the company should not be commercially motivated with a view to distribute any benefits or dividends to its members. It should, instead, operate and undertake its activities for the larger public goods,” the AJl notice stated.