Over the years, the equity capital of The Associated Journals expanded significantly.
In 2008, according to information available with the corporate affairs ministry, Janhit Nidhi, a trust, was the largest shareholder with 262411 shares, followed by Delhi-based Deeksha Holdings (100000 shares) and Mumbai-based Abhim Investments (100000 shares).
The address of Abhim Investments is interesting: Pratiksha, 10th road, Juhu Scheme, "Bombay" - the residence of Amitabh Bachchan.
Mohan Meakin Breweries, of the group that produces Old Monk rum, owned 5000 shares.
State-owned Life Insurance Corporation of India held 800 preference shares. (Nehru owned only three preference shares of The Associated Journals. Daughter Indira owned 50 equity shares, while her husband, Feroze Gandhi, owned 10.)
Things took a curious turn in November 2010 when Sonia, Rahul, Congress treasurer Motilal Vora (also the chairman of The Associated Journals) and party leader Oscar Fernandes floated a not-for-profit company called Young Indian with a capital of Rs 5 lakh.
While Sonia and Rahul owned 38 per cent each, Vora and Fernandes took 12 per cent stake each.
A month later, on December 21, the directors of The Associated Journals, which included Vora and Fernandes, authorised assigning the company's loans to Young Indian for a consideration of Rs 50 lakh.
Technocrat Sam Pitroda and journalist Suman Dubey, old Gandhi family loyalists, were appointed on the board of The Associated Journals on the same day.
The transaction of the liability was approved by the shareholders of The Associated Journals in an extraordinary general meeting on January 21, 2011 in Lucknow. The shareholders, on that day, also approved the allotment of 90.2 million shares at Rs 10 each to Young Indian.
With this, the paid up capital of The Associated Journals zoomed from Rs 93 lakh to over Rs 91 crore. Young Indian came to own 98.97 per cent of the company; the remaining 1088 shareholders were reduced to a minority.