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Addressing a press conference in New Delhi, he said Sonia and Rahul had floated a Section 25 company called 'Young Indian', each with a share holding of 38 per cent, which acquired Associated Journals, founded by the late Jawaharlal Nehru, that published the National Herald and Quami Awaz.
Swamy said Associated Journals obtained an unsecured loan of over Rs 90 crore from All India Congress Committee which he claimed was illegal under the Income Tax Act because a political party cannot give loans for commercial purposes.
He also alleged that the Young Indian wrote off the loans due to the AICC for a mere Rs 50 lakh and by a board resolution, the Associate Journals is sold by transfer of shares to Young Indian, which is not a newspaper or journal producing company.
The deal, Swamy alleged, was to grab prized property like Herald House in Delhi and other properties of the Associated Journals in Delhi and Uttar Pradesh.
He demanded a joint probe by corporate affairs ministry and the Central Bureau of Investigation and a wrote a letter pressing his demand.
The Congress, however, was dismissive of Swamy's allegations, saying that there are "some characters who utter anything, anytime".
"In every society and country, you have some characters. The person you are referring might be one of them who could speak anything, anytime," AICC general secretary Janardhan Dwivedi said.
The Bharatiya Janata Party demanded an immediate probe into the allegations.
"The government should immediately order a probe into the allegations," senior BJP leader Balbir Punj said.