ED Action in National Herald Case Linked to Congress, Issues Notice for Seizure of Properties Worth Rs 661 Crore
In a significant development, the Enforcement Directorate (ED) has initiated possession of properties worth Rs 661 crore linked to the Congress-controlled Associated Journals Limited (AJL), as part of the ongoing probe into the Herald money laundering case.
New Delhi: In a significant development, the Enforcement Directorate (ED) has initiated possession of properties worth Rs 661 crore linked to the Congress-controlled Associated Journals Limited (AJL), as part of the ongoing probe into the Herald money laundering case.
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Multi-City Action in Delhi, Mumbai, and Lucknow
The ED issued notices to property registrars in Delhi, Mumbai, and Lucknow. In Delhi, notices were pasted on the walls of AJL property-5 (A), Bahadur Shah Zafar Marg, a hub for national newspapers and media offices.
In Mumbai, a notice was served to Jindal South West Projects Limited, which occupies the 7th to 9th floors at Herald House, Bandra (East). The company was instructed to transfer monthly rent to the Directorate of Enforcement.
In Lucknow, similar notices were affixed to property number 1, Bisheshwar Nath Road.
ED Probe Uncovers Massive Financial Irregularities
The ED found that proceeds of crime amounting to Rs 988 crore were generated, possessed, and used illegally.
The investigation revealed that Young Indian, a private company beneficially owned by Sonia Gandhi and Rahul Gandhi, acquired AJL’s assets worth Rs 2,000 crore for just Rs 50 lakh—a gross undervaluation.
Alleged Bogus Transactions Worth Crores
The ED further alleged that the AJL and Young Indian were involved in the generation of further proceeds of crime, including:
- Bogus donations worth Rs 18 crore
- Bogus advance rent of Rs 38 crore
- Bogus advertisements worth Rs 29 crore
Investigation Based on Subramanian Swamy’s Complaint
The ED investigation, which began in 2021, was based on a 2014 private complaint by Subramanian Swamy. The complaint accused top Congress leaders including:
- Sonia Gandhi
- Rahul Gandhi
- Late Motilal Vohra
- Late Oscar Fernandes
- Suman Dubey
- Sam Pitroda
- Young Indian (as an entity)
The complaint alleged criminal conspiracy and money laundering involving prominent political figures.
Legal Proceedings Upheld by Courts
The legal challenges faced by the investigation were dismissed by both the Delhi High Court and the Supreme Court, enabling the ED to continue the probe.
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