"If the money has not been paid, the matter ends. But in case loans have been advanced, it has serious ramifications as it's mandatory for political parties to use funds only for political purposes and these can't be used for any commercial purpose," Jaitley told reporters here.
Janata Party president Subramanian Swamy Thursday said a company allegedly floated by the Gandhis had done a "sham and bogus" deal to "grab the Rs.1,600 crore worth Herald House and other properties of the group and demanded a CBI probe.
The Congress has dismissed the charges while Rahul Gandhi's office threatened legal action.
Jaitley said the board of directors of Associated Journals Pvt Ltd (APPL), owner of the National Herald and Quami Awaz, passed a resolution Feb 26, 2011, saying the Congress had given a loan of Rs.90 crore to the company floated by the Gandhis.
Well, it is not the first time, the Congress has financed APPL. One should remember that during Rajiv Gandhi regime, the this APPL was in very critical condition and the initiation of Rajiv had saved the drowning ship. For months the staffers of APPL were not getting their regular salary in time. They were salaried in parts, even then full month's salary was not provided in the stipulated time. The printing and paper used in the newspaper was so horrible that none would like to see the paper. Because after the death of Indira Gandhi none of the Congress president was bothering about the paper established by Jawaharlal Nehru. And after the death of Rajiv Gandhi the paper, National Herald is closed. The present dynasty has taken a long time to assist it.
'The Congress must clarify whether the loan has been actually given or not,' he said.
Jaitley, here for election campaigning, said Associated Journals was transferred through transfer of shares to Young Indian, the alleged company owned by the Gandhis, which is not a newspaper organisation.
'It is a gross irregularity as exemption from income tax to the donors and political parties were given as incentives for transparent functioning of political parties,' the BJP leader said.
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