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ED attaches properties worth Rs 751.9 crore in National Herald money-laundering case

  • ED provisionally attaches properties worth Rs 751.9 Crore in the National Herald money-laundering case
  • AJL found in possession of proceeds of crime through immovable properties across multiple cities
  • Young Indian's acquisition of AJL's assets leads to a tax dispute, with Congress claiming non-profit status for Young Indian

21 Nov 2023

The Enforcement Directorate (ED) on Tuesday announced the provisional attachment of properties worth Rs 751.9 Crore in the National Herald money-laundering case. The investigation revealed that Associated Journals Ltd. (AJL) possessed proceeds of crime in the form of immovable properties valued at Rs. 661.69 Crore across cities like Delhi, Mumbai, and Lucknow. Additionally, Young Indian (YI) held proceeds of crime amounting to Rs. 90.21 Crore in the form of equity shares of AJL.

It is worth mentioning that the agency has previously interrogated Sonia and Rahul Gandhi in this case.

Young Indian took control of Associated Journals Limited, the publisher of the National Herald, acquiring assets exceeding 800 crores. The Income Tax department contends that these assets should be considered as belonging to Young Indian shareholders Sonia Gandhi and Rahul Gandhi, making them liable for taxes. However, the Congress party argues that Young Indian functions as a non-profit entity, and its shareholders cannot derive financial benefits from its assets.

The Enforcement Directorate asserts that Young Indian has not undertaken any charitable activities and is ineligible for claiming benefits, citing its sole transaction as the transfer of AJL's debt. In response, the Congress argues that the newspaper itself constitutes a charitable endeavor.


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