Congress under fire: ED targets AJL assets in Rs 661 crore National Herald probe
PTC Web Desk: The Enforcement Directorate (ED) has initiated steps to take possession of immovable properties valued at Rs 661 crore in connection with its money laundering investigation against the Congress-linked Associated Journals Limited (AJL), known more widely as the National herald case. Prominent Congress leaders Sonia Gandhi and Rahul Gandhi are key accused in the case.
According to an official statement released on Saturday, the federal agency affixed possession notices at three key AJL-linked locations on Friday: the Herald House in Delhi's ITO area, the AJL premises in Mumbai’s Bandra locality, and the AJL building situated on Bisheshwar Nath Road in Lucknow.
As per the ED’s notice, AJL is required to vacate the Delhi and Lucknow properties. In the case of the Mumbai premises, the company has been given the option to transfer the rental proceeds to the ED.
This move is in accordance with Section 8 and Rule 5(1) of the Prevention of Money Laundering Act (PMLA), which outlines the procedure for taking possession of properties that have been provisionally attached and later confirmed by the PMLA adjudicating authority. These assets were originally attached by the ED in November 2023.
The National Herald case centers on the financial dealings between AJL and its parent company, Young Indian Private Limited, which owns the newspaper. Sonia and Rahul Gandhi each hold 38 percent shares in Young Indian.
The ED alleges that AJL and Young Indian were involved in the creation of illicit financial gains, including fake donations amounting to Rs 18 crore, advance rental income of Rs 38 crore, and inflated advertising revenue worth Rs 29 crore.
The roots of the case trace back to a complaint filed by BJP leader Subramanian Swamy, who accused the Gandhis of criminal misappropriation when Young Indian took over AJL’s properties—estimated to be worth more than Rs 5,000 crore—in 2010.
- With inputs from agencies
