ED raids at Gujarat Samachar offices

The offices of Gujarat Samachar were raided by the Enforcement Directorate (ED) today.

Gujarat Samachar is a leading newspaper in Gujarat, owned by Shreyansbhai Shah and Bahubali Shah. The newspaper has been in existence for over 92 years, having been established in 1932.

The reasons for the ED raids are not yet known. The raids were ongoing at the time of filing this story.

Gujarat Samachar is a prominent Gujarati-language daily newspaper published in India. Its headquarters are in Ahmedabad, with a branch office in Surat. It is distributed across Ahmedabad, Vadodara, Surat, Rajkot, Bhavnagar, Mumbai, Mehsana, Bhuj, and New York City.

The newspaper was founded by Chhabilbhai M. Patel in 1932 and was later acquired by Shantilal Shah in 1952. Its first issue was published on January 16, 1932. Bahubali Shah and Shreyansbhai Shah jointly hold a 24.6% stake in the company through Amrut Investment, while another 9.62% is owned by three other family members: Nirmam Shah, Anupamaben Shah, and Amam S. Shah.

Just three weeks ago, on April 19, Mrs. Smrutiben Shah, wife of Shreyansbhai Shah, passed away.

Smrutiben Shreyanshbhai Shah was a Director of Gujarat Samachar and a shining star in the governing board of Gujarati journalism. 

With her unique decision-making abilities and management expertise, she successfully handled the management of various editions of Gujarat Samachar. Her departure has left a significant void, not only among newspaper managers in Gujarat but also in the community of dedicated women professionals known for their strong public connections and unwavering commitment to Gujarat Samachar.

She served as the editor of the popular women’s weekly Shree for four decades, nurturing and presenting a new generation of female Gujarati writers to the world of literature and journalism. She also led Gujarat Samachar’s women’s supplement for several years, guiding its direction and content.

As the life partner of Gujarat Samachar’s Managing Editor, Shreyanshbhai Shah, she fulfilled an ideal role throughout her life. Even during the most turbulent times resulting from Shreyanshbhai’s fearless and impartial journalism, Smrutiben stood firmly beside him, truly becoming his other half. Her deep insight helped her develop a modern management system and exceptional administrative skills which she applied across various departments of Gujarat Samachar’s operations.

As the devoted life partner of Managing Editor Shreyanshbhai Shah, she was a steadfast pillar during challenging times that arose from his bold and impartial journalistic endeavors. Her intuitive leadership and the modern management systems played a crucial role in steering Gujarat Samachar’s diverse editions and administrative functions.

Smrutiben was deeply respected and beloved by the vast network of distribution agents and vendors associated with Gujarat Samachar. Known for siding with distributors during internal misunderstandings, she was regarded as a supportive figure in times of crisis. Her absence has left an irreplaceable void in the hearts of thousands who relied on her guidance and maternal warmth.

She also invested heavily in the growth and development of budding journalists. Many young reporters considered her a mentor and a mother figure, and under her guidance, a large community of professionals emerged across the various branches and editions of the newspaper.

Gujarat Samachar is owned by Lok Prakashan Limited. The shares of the company are divided among 443 Individuals and 15 Companies, according to the data available with the Ministry of Corporate Affairs (2016-2017). 

A  total fo 71.92% share of the company is held by Individual promoters (Shah Family), 11.01% share held by Individual Non-Promoters/Public and 17.08% share held by other companies (Non-Promoters). The Shah family owns 71.92% share of the company.

Bahubali Shah holds 22.79% direct share, his brother Shreyans Shah holds 10.03% direct share and Smrutiben Shreyansbhai Shah (wife of Shreyans Shah) holds 4.88% share of Lok Prakashan Limited. 

Bahubali Shah and Shreyans Shah jointly hold 24.6% share in the company through Amrut Investment and 9.62% share of the company is owned by other three members of the family Nirmam Shah, Anupamaben Shah and Amam S. Shah.

The remaining 28.08% share of the company is split between other members of the family, Individuals (non-family) and companies with less than 1% share each.