NEW DELHI: In a significant development, the Enforcement Directorate (ED) announced on Tuesday that it has provisionally attached assets valued at ₹751.9 crore in connection with its money laundering investigation into Congress-run National Herald newspaper's affairs. The targeted entities include Associated Journals Limited (AJL) and Young Indian (YI).
The attached properties encompass the iconic National Herald houses located in Delhi and Mumbai, along with Nehru Bhavan in Lucknow. The ED stated that these properties, totaling ₹751.9 crore, are linked to the proceeds of crime, as revealed in their investigation under the Prevention of Money Laundering Act (PMLA), 2002.
According to the ED's official statement, the investigation disclosed that AJL possessed proceeds of crime in the form of immovable properties across various Indian cities, amounting to ₹661.69 crore. Similarly, YI was found to be in possession of ₹90.21 crore in proceeds of crime, manifested through investments in equity shares of AJL.
The roots of this case trace back to a complaint filed by Subramanian Swamy of the BJP in a Delhi court in 2013. The complaint alleges cheating, conspiracy, and criminal breach of trust in the acquisition of Associated Journals Limited by Young Indian Pvt Ltd.
Notably, Congress leaders Sonia and Rahul Gandhi were granted bail in the case by a trial court in December 2015. The ED's latest move to attach substantial assets adds a new dimension to the ongoing legal saga surrounding the National Herald, shedding light on the financial intricacies and alleged wrongdoings that have been the focus of this high-profile case.
