National Herald had tied up with Swarup group of Industries for a bank at plot allotted to it in Mumbai

Associate Journals Ltd an company affiliated to the Nehru - Gandhi's had entered into an agreement with the Swarup group of Industries at the National Herald plot, this information has been obtained by RTI activist Anil Galgali. The Swarup group of Industries had already made a payment of Rs 10 lakhs with the intention to develop a largest Cooperative bank in Maharashtra. RTI activist Anil Galgali had sought documents from the Mumbai Suburban Collectors office related to plot allotted to Associate Journals Ltd. Through the documents provided to Galgali it has been revealed about the agreements with the Swarup group of Industries. In a letter dt 3rd December 2003 addressed to the Collector of Mumbai Suburban district by the Swarup group of Industries, a company engaged in software and infrastructure development business intimated about an agreement with the Associated Journals Ltd for developing a Educational Library for Research and also a largest Cooperative Bank in Maharashtra at the plot, it also stated that they have been directed to clear the outstanding dues for the plot and hence sought to know the total outstanding and sought an installment option for clearing the dues. Swarup group of Industries also enclosed a letter dt 12th February 2003 addressed to the company by the Forward Market Commission which has authorised the Chairman and Executive director of the company Shri G S Srivastava to to start a SGI Commodity Exchange in Mumbai. The authorization was given to the company by the Forward Market Commission on its application dt 14th January 2003. The cheque for Rs 10 lakhs was somehow not accepted by the Collector, hence the company issued another cheque on 24 may 2004 after taking back the previous cheque. Later on dt 31 st December 2004 in a letter addressed to M/s Pirani and Co, rejected the requests for inspection of documents citing pendency of the transaction for transfer of the property. Also it sent a letter to the Collector of Mumbai Suburban asking it to inform them on whose name has the title certificate issued, M/s Associate Journals or the Swarup group of Industries. The Mumbai Suburban collector on 5th February 2005 addressed a letter to Associate Journals Ltd intimating that Rs 99 lakhs 71 thousand 894 is outstanding for which the payments be made or a bank guarantee for the like amount be submitted. Therefore it can be inferred that Associate Journals always harbored intention of commercial exploitation of the plot and hence created situation to hold on to the plot for 30 years without doing any construction on the plot. In a letter addressed to CM Devendra Fadnavis, Galgali has requested that a fresh enquiry be instituted to look into the agreement between Associate Journals Ltd and Swarup group of Industries and take action on the issue.