National Herald case: ED moves to seize ₹661 crore immovable assets of Congress-controlled AJL

The Enforcement Directorate said on Saturday, April 12, it has moved to seize possession of immovable assets worth ₹661 crore linked to the money laundering case against Congress-controlled Associated Journals Limited (AJL). Notably, Rahul and Sonia Gandhi own over 75 per cent of the AJL shares.

The federal probe agency said in a statement that it has affixed these notices at the Herald House located in Delhi at ITO, at the premises in Bandra area of Mumbai and the AJL building located at Bisheshwar Nath Road in Lucknow on Friday. The notices seek vacation of the premises or transfer of rent (in the case of the Mumbai asset) to the ED.

The ED had linked these immovable properties in November 2023 as part of the money laundering case against AJL and Young Indian.

Also Read | Employee gets ‘punished’ after addressing CEO by name; social media now calls her ‘loser’; here’s why

The action has been taken under Section (8) and Rule 5(1) of the Prevention of Money Laundering Act (PMLA) that talks about the procedure of taking possession of the assets that are attached by the ED and confirmed by the adjudicating authority (of PMLA).

ED began its probe in the National Herald case after Subramanian Swamy filed a complaint in 2014, accusing Sonia, Rahul Gandhi, and other senior Congress leaders of taking over AJL properties for a mere sum of ₹50 lakh. The properties are worth over ₹2,000 crore.

The National Herald is published by Associated Journals Limited (AJL), which is owned by Young Indian Private Limited. Congress leaders Sonia Gandhi and Rahul Gandhi each hold a 38% stake in Young Indian, making them its majority shareholders.

“Young Indian and AJL properties were used for generation of further proceeds of crime in the form of bogus donations to the tune of ₹18 crore, bogus advance rent to the tune of ₹38 crore and bogus advertisements of ₹29 crore,” the ED alleged.

(With agency inputs)