The 92-year old impeccable legacy of Gujarat’s largest circulated daily Gujarat Samachar has been hit by a severe crisis as the top newspaper’s co-owner Bahubali Shah was arrested on Friday in Money Laundering Case.
Bahubali Shah, aged 73, was apprehended on Friday morning after raids at several places linked to him. However, the ED has not disclosed the motive behind his arrest.
The capture of the proprietor of Gujarat Samachar, a mainstay in numerous Gujarati homes and some areas of Maharashtra, sparked buzz on social media and resonated in political circles.
Shah is one of the directors at Lok Prakashan Limited, the publisher of Gujarat Samachar and the operator of the GSTV news channel. His brother, Shreyansh Shah, continues to serve as the paper’s managing editor.
After his arrest, Shah’s health allegedly worsened, leading to his hospitalization. The ED has not yet provided a comprehensive statement about the charges or the evidence collected against him.
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Rahul Gandhi, Kejriwal condemn arrest of Shah
The condemnation of Bahubali Shah’s arrest by Leader of the Opposition Rahul Gandhi and former Delhi Chief Minister Arvind Kejriwal highlights his popularity and the newspaper’s legacy.
In 1985, the newspaper’s office and printing press were set ablaze during a communal clash triggered by an anti-reservation movement. Forty years later, it finds itself in another crisis due to the arrest of , the co-owner of Gujarat Samachar, related to a money laundering case.
Gujarat Samachar and its legacy
Gujarat Samachar, established 92 years ago in 1932, is managed by Lok Prakashan Ltd. Lok Prakashan was founded by prominent figures of the Independence movement such as Sardar Vallabhbhai Patel and Morarjee Desai.
The inaugural edition of the newspaper was released on January 16, 1932. Approximately two decades later, it was bought by Shantilal Shah after the newspaper began incurring significant losses.
Currently, Gujarat Samachar, recognized for its opposition to the establishment, is the best-selling Gujarati newspaper. As per a past news article, the Lok Prakashan empire is valued at more than Rs 2,000 crore.
Bahubali Shah and Shreyansh Shah collectively possess a 24.6% share in the firm via Amrut Investment. An additional 9.62% is owned by three other family members. The Shah family holds a 71.92% stake in the company.
The turmoil within the Shah family arises just weeks after Shreyansh Shah’s wife died on April 19. His spouse, Smrutiben Shah, a distinguished journalist in her own right, held the position of editor at the well-known women’s weekly Shree for more than forty years.
