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5mo ago

ED Moves to Seize ₹661 Crore in Assets in National Herald Money Laundering Case

The Enforcement Directorate has issued formal notices to take possession of properties linked to Congress-controlled AJL, marking a significant escalation in the 2021 probe.

The ED case of money laundering is against AJL and its holding company Young Indian. The National Herald is published by AJL and owned by Young Indian Private Limited.
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Overview

  • The ED has initiated proceedings to seize immovable properties worth ₹661 crore in Delhi, Mumbai, and Lucknow, previously attached under provisional orders in November 2023.
  • This action follows confirmation by the adjudicating authority under Section 8 and Rule 5(1) of the Prevention of Money Laundering Act (PMLA).
  • The properties belong to Associated Journals Limited (AJL), controlled by Congress leaders Sonia Gandhi and Rahul Gandhi through Young Indian Private Limited.
  • The investigation alleges that AJL properties, valued at over ₹2,000 crore, were acquired for ₹50 lakh and used to generate further proceeds of crime, including bogus donations and rents.
  • The case, initiated in 2021, stems from a complaint by BJP leader Subramanian Swamy, alleging criminal conspiracy and fraudulent property undervaluation.